Overview

• On May 29, Fed Chair Jerome Powell held his first White House meeting of President Trump’s second term to discuss growth, employment and inflation.
• President Trump urged immediate rate cuts, calling the Fed’s refusal a mistake that could harm the economy.
• In early May, the Fed’s Board of Governors unanimously voted to keep the primary credit rate at 4.5%.
• Powell stressed that policy decisions will rely exclusively on objective, non-political analysis of incoming economic data.
• Market analysts forecast a quarter-point rate cut in September 2025 if economic indicators warrant easing.