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CoinDesk 2025-05-07 18:05:06

Fed Holds Rates Steady, Says Risks of Higher Unemployment, Higher Inflation Have Risen

Fed Holds Rates Steady, Says Risks of Higher Unemployment, Higher Inflation Have Risen

As was widely expected, the U.S. Federal Reserve held its benchmark fed funds rate range steady on Wednesday at 4.25%-4.50%, extending its pause on monetary easing for the third consecutive meeting. "Uncertainty about the economic outlook has increased further," said the Fed in its accompanying statement . "The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen." Bitcoin ( BTC ), which slipped back below $97,000 during the day paring gains from a late Tuesday rally on U.S.-China trade talks, was trading at $96.600 shortly after the Fed’s decision. The decision comes as policymakers are navigating a treacherous macroeconomic landscape amid the Trump administration's global tariff rollout. Inflation remained sticky above the 2% target and questions abound of how tariffs will translate into consumer prices, while the economy showed signs of decelerating. Market participants anticipate three rate cuts this year targeting July as the most likely first meeting to lower rates. However, Fed members have been vocal about waiting for more clarity on the impact of tariffs before changing course. All eyes are now on Powell’s upcoming remarks at 2:30 pm ET (18:30 UTC), which could offer crucial clues on the Fed’s thinking for the upcoming months.

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