Kitco News: Fed Chair Jerome Powell ‘Uncertainty Today is Unusually Elevated’

The Federal Reserve has decided to hold interest rates steady, remaining within the range of 4.25% to 4.5%. This decision, while widely anticipated, comes alongside a revised economic outlook that paints a complex picture of the future. Policymakers are now projecting two interest rate cuts in 2025, while simultaneously acknowledging the challenges of higher inflation and slower economic growth. The decision highlights the tightrope the Fed is walking. They are attempting to combat inflation while avoiding triggering a recession. The current rate range reflects this balancing act. While inflation has cooled from its peak, it remains above the Fed’s target…