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US Federal Reserve Minutes Coverage
The US Federal Reserve announced that it would keep interest rates at 4.5% despite US President Donald Trump's calls for a rate cut.
In their statement, the Fed members explained that their decision was driven by upside risks to inflation, a resilient labor market, and a stable unemployment rate.
The following are key remarks from US Federal Reserve Chairman Jerome Powell at the press conference following the interest rate decision, which you can watch live below.
• If the significant tariff increases continue as announced, we will see higher inflation and lower employment.
• Survey respondents point to tariffs as a driver of inflation expectations.
• Fed Chairman Powell: It's time to wait before adjusting policy.
• The impact of (US President Trump's) policies on inflation may be temporary.
Ultimately, we believe interest rates are in a good place.
• Looking at the distortions in the first quarter, the economy is strong.
• There is a lot of uncertainty regarding tariffs.
• I cannot predict the direction of risks.
• We will wait some time before making any adjustments to monetary policy.
• Fees so far have been much higher than expected.
• Long-term inflation expectations are consistent with our objectives.
• We expect the economic picture to become clearer as the administration concludes trade agreements with other countries.
• There are instances when a rate cut may be appropriate this year.
• I cannot confidently say I know the appropriate path for interest rates.
• President #Trump's demands for us to cut interest rates do not influence monetary policy decisions. We serve the American people and do not respond to any political pressure.
