Federal Reserve Chair Jerome Powell reiterated the need for a wait-and-see approach during a press conference following the committee's policy announcement.

Federal Reserve Chair Jerome Powell will likely be asked about the economic fallout from President Trump's tariff rollout during his press conference following the Federal Open Market Committee meeting.

By Howard Schneider WASHINGTON (Reuters) -With mounting evidence that tight labor markets do not necessarily boost inflation and facing massive job losses in 2020, Federal Reserve Chair Jerome Powell oversaw a shift in U.

The former headquarters of the Second Bank of the United States, a precursor of the Federal Reserve, at Philadelphia in 2014. ProfReader via Wikimedia Commons CC3.0

The Fed’s 2026 projections range from 2.9% to 4.1% compared with the previous 2.4% to 3.9% range. Market expectations: Traders have placed low probabilities on the Fed cutting rates at the June or July meetings,

The Federal Reserve kept its key interest rate unchanged Wednesday, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of higher unemployment and higher inflation have risen.

The Fed holds rates steady amid strong spending data, while tariffs spark market turmoil and threaten growth. Read more on the economy here.

Prices paid by consumers for goods and services increased .2% in April, the U.S. Bureau of Labor Statistics has announced. The agency, calculating the increase on an adjusted basis, said in a news

The Federal Reserve said Wednesday afternoon it won’t move interest rates, matching expectations from economists and investors for the central bank, despite repeated, loud requests from the Oval Office to slash rates.