Federal Reserve officials left its 2025 interest-rate projections unchanged at their latest monetary policy gathering, opting to wait for clearer signs of how various Trump administration policy shifts might affect the economy,

The Fed, helmed by Chair Jerome Powell, is expected to hold rates steady this month despite pressure from President Donald Trump to make cuts.

The Federal Reserve did not cut interest rates, as was expected. With little question over whether the Fed would cut, investors turned their attention to the central bank’s outlook for the future of interest rates.