Instant Reaction: Jay Powell on the Fed Decision
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 18 June 2025
⏱️ 27 minutes
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Summary
Bloomberg's Tom Keene and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.
Federal Reserve officials left interest rates unchanged and continued to pencil in two rate cuts in 2025, saying uncertainty over the economic outlook was still high but had diminished.
The Federal Open Market Committee voted unanimously on Wednesday to hold the benchmark federal funds rate in a range of 4.25%-4.5%, as they have at each of their meetings this year.
Officials also downgraded their estimates for economic growth this year while lifting their forecasts for unemployment and inflation.
Speaking to reporters following the decision, Chair Jerome Powell repeated his view that the central bank was “well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”
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| 1:00.0 | Bloomberg Audio Studios, Podcasts Radio News. |
| 1:15.1 | This is a Fed. |
| 1:20.3 | It sees a lot more certainty ahead, but not yet enough to make any moves. |
| 1:24.0 | While Powell said that peak uncertainty happened in April, and we are getting some clarity. |
| 1:26.6 | There's still a lot to learn until the data becomes clear. |
| 1:27.7 | They're on hold and are in a good place. Take a listen. We feel like the right thing to do is to be where we are, |
| 1:34.2 | where our policy stance is, and just learn more. And in particular, we feel like we're going to |
| 1:38.6 | learn a great deal more over the summer on tariffs. We hadn't expected them to show up |
| 1:43.9 | much by now, and they haven't, |
| 1:46.4 | and we will see whether to the extent to which they do over coming months. And I think that's |
| 1:50.8 | going to inform our thinking. Drone Powell also asked about the situation in the White House, |
| 1:57.0 | dismissing questions around the future for him on the Federal Reserve. |
| 2:07.6 | I need to ask. Ass assuming you are not reappointed, would you stay on as governor when your term is chair? I'm not thinking about that. I'm thinking about this. |
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