📈 Recent data indicates moderate growth in economic activity in the first half of the year, influenced by volatility in foreign trade.
💼 Unemployment remains low, and labor market conditions remain strong.
📉 Despite easing, inflation remains slightly above the target level.
🏦 The Fed maintained the federal funds rate target range at 4.25%–4.5%.
🔍 Future rate decisions will depend on incoming economic data, forecasts, and risk balance assessments.
📉 Balance sheet reduction continues: The Fed will reduce holdings of Treasuries, agency debt, and mortgage-backed securities.
⚠️ The Fed acknowledges ongoing economic uncertainty and considers risks to both employment and inflation mandates.
🔄 The Fed is prepared to adjust policy if risks emerge that threaten its objectives.
✋ Michelle Bowman and Christopher Waller voted against the decision, advocating for a 0.25% rate cut.
**Next:** Live text coverage of the press conference with Jerome Powell.