The US Federal Bank has maintained interest rates this month. All over the past, markets have been discounting that the Fed and its chairman, Jerome Powell, would not reduce interest rates.

Fed interest rates range in the range of 4.25%-4.50%. The reference rate has been in its current range since December.

Fed officials are still awaiting two interest rates this year, according to the average provision. In March, the last time officials published their forecasts, there were four officials who estimated that there would be no interest rates reductions in 2025. Now, there are seven, but that was not enough to move the median to an interest rate reduction.

Fed officials also expect unemployment increased more this year than they estimated in March, reaching 4.5% instead of 4.4%. The national unemployment rate is currently at 4.2%.

They also expect that inflation will be higher this year than they had predicted a few months ago. Officials expect that the annual inflation rate – the price index of personal consumer spending – will increase at an annual rate of 3%, compared to 2.7% previously expected.

‘Attack’ Trump on Powell

“Attack” by Fed President Jerome Powell was launched Wednesday by Donald Trump.

Speaking to reporters outside the White House, he said he was not expecting interest rates from the Fed today, adding that “it should have reduced interest rates by 2 points,” according to the Reuters news agency.

In addition, he stressed that President Powell “has not done a good job” and that “if the Fed reduced interest rates, we would borrow much cheaper”.

Trump has not hidden his dissatisfaction with Powell and the Fed because they did not reduce interest rates since the president began his second term in January. While Trump has retired from comments earlier this year that he could dismiss Powell, and a recent ruling by the US Supreme Court reduced concerns that he could do so, he said earlier this month that the decision for the next Fed president would come.