Oil prices up, pressures mount; Will Fed lower rates?
The US Federal Reserve began its fourth meeting this year on June 17, having kept interest rates unchanged in its January, March, and May meetings despite mounting pressure from President Donald Trump to lower borrowing costs.
But will the central bank finally respond to his repeated calls amid rising trade and military tensions?
A Pause... But a Long One
After cutting interest rates by 100 basis points (bps) in Q4 2024, the Fed decided to hold steady for a while, especially as inflation remained well above its 2% target — a stance that has not been appreciated by President Trump.
Trump Turns Up the Heat
Since taking office in January, Trump has seized every opportunity to sharply criticize the Fed and its Chairman, Jerome Powell, for not cutting rates. He even called Powell a 'fool' and demanded a 200 basis-point cut, which he claims would save the country $600 billion annually.
Federal Reserve Meeting Schedule – 2025
Meeting Date
Decision / Expectations
Notes
Jan. 28–29
Hold
---
March 18–19
Hold
Policymakers projected two rate cuts this year in their quarterly report
May 6–7
Hold
---
June 17–18
Hold
Official projections report to be released after meeting
July 29–30
--
---
Sept. 16–17
--
Official projections report to be released after meeting
Oct. 28–29
--
---
Dec. 9–10
--
Official projections report to be released after meeting
Poll
What to expect from Fed in the next meeting?
A 25-basis point cut
A bigger cut
Unchanged
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