Powell made clear that Fed policymakers are in no rush to reduce interest rates further, after lowering borrowing costs by a full percentage point in the final months of 2024. Whe

The Federal Reserve left interest rates unchanged on Wednesday, amid a cloudy economic outlook, partly because some of President Trump’s policies could stymie the fight against inflation. Wednesday’s pause comes after the central bank cut interest rates by a full percentage point between September and December of last year.

Fed Chair Jerome Powell said the central bank does “not need to be in a hurry,” in an afternoon press briefing, adding that its policy stance is well-calibrated for the times.