The Federal Reserve said Wednesday afternoon that it will hold rates steady while acknowledging the ‘risks of higher unemployment and higher inflation have risen.’
In a statement, the central bank’s Federal Open Market Committee (FOMC) said that there was now greater ‘uncertainty’ about the economic outlook, a reference to the trade tariffs announced, and then largely paused, by President Trump.
While acknowledging this uncertainty, the FOMC voted unanimously to hold rates at their current 4.25% to 4.5% range, rather than lower them.
