The Fed anticipates more moderate growth in the years ahead, lowering its GDP forecasts to 1.4% for 2025 (from 1.7% previously) and 1.6% for 2026 (from 1.8%).
The market had a muted initial reaction to Powell’s press conference. The S&P 500 gave up its 0.3% gain, and Treasury yields increased slightly heading into the close.
Speaking at the White House, Trump said Powell, whom he appointed during his first presidential term, had performed poorly and jokingly mused about taking over the Fed himself.
At the time of writing, Trump is waffling about the possibility of joining Israel in its attacks on Iran. This adds yet another possible inflation risk story: crude oil prices could spike in response to snowballing conflicts in the Middle East.
Core Japanese inflation rose more than expected in May. Even so, the Bank of Japan is likely to prioritize the negative impact of US tariffs. If a trade deal is made by the third quarter, the BoJ may resume rate hikes.
Dreams about “sound management” and “a return to fiscal responsibility” do little more than propagate the idea that central banks will do a good job so long as the right people are in charge.
AutoPump has unveiled its innovative, automatic, cordless tyre inflator for UK-wide release. The device also pumps up footballs and basketballs to recommended air pressure levels.
AutoPump has launched a portable 150 PSI tyre inflator with auto shut-off technology, rechargeable battery and digital display, designed specifically for drivers and caravan users needing reliable tyre inflation on road trips.
AutoPump announced the enhanced capabilities of its automatic tyre inflator, equally suited to pumping up inflatable rafts and other target objects. The device is currently shipped across the UK, compatible with nationwide plug adapters.
The Federal Reserve keeps rates steady but warns of meaningful inflation ahead. With tariffs driving up prices, the Fed sees slower growth, rising inflation, and persistent uncertainty.
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