The Federal Reserve decided to keep interest rates unchanged, while expressing concerns about the impact of President Trump's tariffs on the U.S. economy. The Fed adjusted its economic growth forecast downward and elevated expectations for inflation. Fed Chairman Jerome Powell indicated plans for potential interest rate cuts later this year, reflecting uncertainty surrounding tariffs. Additionally, a federal judge denied a lawsuit aimed at blocking a government takeover of the U.S. Institute of Peace. During ongoing tensions, Israel has initiated a new ground invasion in Gaza following a ceasefire with Hamas.
The Federal Reserve maintained interest rates Wednesday while cautioning that new tariffs from President Trump could negatively impact the U.S. economy.
Federal Reserve Chairman Jerome Powell indicated that despite the economic uncertainty caused by tariffs, the bank is still likely to cut interest rates twice later this year.
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