Given economic reports over the last few months, there was no surprise that the Federal Open Market Committee of the Federal Reserve decided to hold the benchmark federal funds rate target range steady at 5.25% to 5.50%.
While reporters kept asking for timelines or indications of how things might change going forward, Fed Chair Jerome Powell made a couple of remarks that suggest there would be no cut until the September FOMC meeting at the earliest, making three cuts highly unlikely and even putting pressure on expecting two.
"The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent," the post-vote FOMC statement said.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
