According to the Wall Street Journal, “Powell’s is doing a balancing act projecting confidence while admitting we don’t  know what comes next.” (WSJ.com)

The Key Points from today’s meeting:

1) Powell knows that there is uncertainty around economic forecasts, especially regarding tariff impacts.
2) Fed policymakers are unsure on rates cuts this year.
3) The Fed’s independence is declared by Powell despite pressure from Trump for rate cuts.

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