Overview

• The Federal Reserve is widely projected to maintain its benchmark interest rate at 4.25%-4.50% during next week's policy meeting.
• April’s jobs report showed 177,000 nonfarm payrolls added, surpassing expectations and signaling continued labor market strength.
• Barclays and Goldman Sachs have revised their forecasts, now predicting the first Fed rate cut in July instead of June.
• Market futures still price in at least three 25-basis-point rate cuts by December, though the strong jobs data has tempered near-term expectations.
• President Trump has intensified political pressure on the Fed for immediate rate cuts, citing tariff revenues and falling consumer prices as evidence of economic strength.