The U.S. economy has faced a months-long stretch of stubborn inflation.
Federal Reserve Chair Jerome Powell participates in a Washington Forum on the Canadian Economy, together with Tiff Macklem, Governor of the Bank of Canada, on April 16, 2025, in Washington, D.C., putting pressure on the Fed to keep interest rates high despite a risk of hindering economic activity with expensive borrowing costs.
At its most recent meeting, in March, the Fed stuck to its previous projection of three rate cuts by the end of 2024, even as it opted toThat approach has amounted to a prolonged pause of the aggressive rate hiking cycle that began roughly two years ago when the central bank sought to rein in rapid price increases.
Interest rate cuts would lower borrowing costs for consumers and businesses, potentially triggering a burst of economic activity through greater household spending and company investment.
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