The US Federal Reserve held interest rates steady on Wednesday, keeping the federal funds target range at 4.25%–4.50%, while signalling a cautious stance on potential rate cuts later in the year. The decision reflects policymakers’ concerns about persistent inflation and the growing impact of tariffs on consumer prices.In its updated projections, the Fed maintained its forecast for two rate cuts in 2025. Inflation is now expected to stay above 3%, while GDP growth projections have been trimmed.
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