Interest Rates Remain Unchanged

As expected, the Fed left interest rates unchanged. Regarding future rate cuts, Fed Chairman Jerome Powell used the words ‘wait and see’ nearly a dozen times in the news briefing. Powell said the economic impact of tariffs has not yet been seen. “We see sentiment concerns that higher prices may be coming, people are worried now about inflation; they’re worried about a shock from the tariffs, but they really haven’t, that shock hasn’t hit yet.” Powell emphasized the economy is still in solid shape.