Federal Reserve Board Chair Jerome Powell, greets attendees during the National Association for Business Economics meeting at Grand Hyatt Nashville in Nashville , Tenn., Monday, Sept. 30, 2024.
© Nicole Hester / The Tennessean / USA TODAY NETWORK via Imagn Images + © Susan Tompor / USA TODAY NETWORK via Imagn Images
(Washington, DC) – The Federal Reserve has left interest rates unchanged. This marks the first such policy decision from the central bank since President Trump took office. Last year the Fed cut rates three times. Trump recently said he’d like to see lower rates.
In a press conference following the rate announcement, Fed Chair Jerome Powell said he’s had “no contact” with President Trump since the comments regarding rates. Trump told business leaders at the World Economic Forum in Davos, Switzerland that he aims to push for lower rates.
But with inflation leveling off and nearing the central bank’s 2% target for annual price growth, many Wall Street watchers have downgraded their expectations for future rate cuts. In fact, many experts feel the Fed struck a more hawkish tone toward the end of the year — and in some cases the forecast for rate cuts was reduced.
