The US Federal Reserve announced interest rates will remain steady at between 4.25 and 4.5% Wednesday, marking the central bank’s first rate decision of President Donald Trump’s second term.
The bank signaled it had no immediate plans to lower rates further amid increased economic uncertainty arising from Trump’s agenda.
“In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the (Fed) will carefully assess incoming data, the evolving outlook, and the balance of risks,” the central bank said in a statement.
“In the current condition, there’s probably some elevated uncertainty because of significant policy shifts,” the Fed’s Chair Jerome Powell said, though, he added, these concerns are likely “passing,” and economic forecasting should stabilize further into Trump’s term.
Source: federalreserve.gov