Federal Reserve Leaves Rates Unchanged at 1st Meeting of Trump Era
The Fed removed language regarding confidence in achieving its 2 percent inflation target.
In its first meeting since President Donald Trump returned to the White House, the Federal Reserve left interest rates unchanged for the first time since July 2024, pausing its easing cycle.
Officials unanimously voted to keep the benchmark Federal Funds Rate steady at a range of 4.25 to 4.5 percent.
A statement by the rate-setting Federal Open Market Committee (FOMC) did not consist of language highlighting that inflation has made progress toward the 2 percent objective.
“The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid,” the FOMC said. “Inflation remains somewhat elevated.”
