- Fed Chair Jerome Powell repeated the word “uncertainty” at least 10 times when talking about the central bank’s economic outlook. The Fed slightly lowered its growth projection and raised its forecast for inflation, but investors appeared more convinced the Fed is particularly attuned to concerns about growth.
Markets breathed a sigh of relief on Wednesday after the Federal Reserve kept rates steady as expected but signaled that two cuts remain on the table this year. Stocks jumped after Fed Chair Jerome Powell said the economy remains strong, though he emphasized the central bank will adopt a wait-and-see approach when it comes to the economic agenda of President Donald Trump.
