Chairman says panel needs to “wait to learn more” about economy direction.
Federal Reserve Chair Jerome Powell announced Wednesday that the central bank will continue to hold its bank exchange interest rates steady at 4.24 to 4.5 percent. The rate has remained the same since the beginning of 2025, despite President Donald Trump’s calls to decrease the interest rate. Vice President JD Vance and Commerce Secretary Howard Lutnick have also urged the Fed to implement a rate reduction.
Chairman Powell said that while the labor market is continuing to grow at a “solid pace,” the Fed remains uncertain about the impact of new U.S. tariff policies on inflation, global trade, and the American economy.
“For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance,” the Federal Reserve chairman said at a press conference after the rate decision.
As the Lord Leads, Pray with Us…
- For wisdom for Chairman Powell and members of the Federal Reserve as they assess the status of the nation’s economy and job market.
- For President Trump and administration officials as they advocate for a rate reduction to spur economic growth.
Sources: CBS News, AP News, MSN
