The Federal Reserve left its benchmark interest rate unchanged after three consecutive cuts last year. The decision signals a more cautious approach as it assesses inflation trends and the potential impact of President Trump’s policies. The Fed highlighted a strong job market with unemployment holding steady at a low level but acknowledged that inflation remains elevated. Powell declined to comment on President Trump's recent remarks about lowering oil prices and interest rates, stating he had no direct contact with the president.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Federal Reserve decided to leave its benchmark interest rate unchanged after three consecutive
00:07cuts last year. The decision signals a more cautious approach as it assesses inflation
00:12trends and the potential impact of President Trump's policies. The Fed highlighted a strong
00:17job market with unemployment holding steady at a low level, but acknowledged that inflation
00:21remains elevated. Powell declined to comment on President Trump's recent remarks about lowering
00:27oil prices and interest rates, stating he had no direct contact with the president on the matter.