Fed Chair Jerome Powell and officials remain cautious about cutting rates without strong evidence of their restrictive stance working|@federalreserve|X

Today, all eyes will be on the Federal Reserve’s decision on interest rates—whether to project one or two interest rate cuts this year.

The officials are united in a wait-and-see approach, maintaining the short-term benchmark rate between 5.25% and 5.5%. The Fed isn’t expected to announce any rate changes.

With inflation at 2.7% over the past year, which is above the Fed’s 2% target, officials remain cautious about cutting rates without strong evidence that their restrictive stance is working.