đź’¨ Abstract
Federal Reserve officials anticipate worsening inflation but expect two interest rate cuts by year-end 2025. They kept the key rate unchanged, forecasting slower growth, higher inflation, and increased unemployment due to recent tariffs. The Fed will likely wait to assess the tariffs' impact before adjusting rates. President Trump has criticized the Fed's caution, but economists warn against rate cuts solely to reduce government borrowing costs. Various central banks globally have altered rates in response to economic conditions.
Courtesy: WTOP Staff
Suggested
US resumes visas for foreign students but demands access to social media accounts -
Michigan, environmental groups challenge federal order to keep power plant open -
Former Georgia jail guard abused inmates with Taser and lied about it, authorities say -
Pacers guard T.J. McConnell could play key role on whether NBA Finals go to Game 7 -
Scientists warn that greenhouse gas accumulation is accelerating and more extreme weather will come -
Utility workers uncover 1,000-year-old pre-Inca mummy in Peru’s capital -
European diplomats to hold talks with Iranian officials as US weighs strikes on Iran’s nuclear program, AP source says -
Three more DeSantis allies to take the helm of public universities in Florida -
US starts evacuating some diplomats from its embassy in Israel as Iran conflict intensifies -
US starts evacuating nonessential diplomats and their families from its embassy in Israel as Iran conflict intensifies -