US Stocks Finish Mixed as Fed Holds Interest Rates Steady
The Dow Jones Industrial Average inched up 0.025%, or 12.19 points, finishing at 49,015.60. The Nasdaq rose 0.17%, or 40.35 points, to 23,857.45, while the S&P 500 slipped 0.01%, or 0.57 points, to 6,978.03.
The Fed maintained its policy rate at a target range of 3.5%–3.75%, citing that economic activity has been expanding at a “solid” pace. Fed Chair Jerome Powell said the central bank could consider cutting rates once price pressures ease, explaining, “the effects of tariffs flowing through goods prices peaking and then starting to come down, assuming there are no new major tariff increases that are begun.”
Powell added, “And that’s what we expect to see over the course of this year. If we see that, that would be something that tells us that we can loosen policy.” He also noted that the US economic growth outlook is currently stronger than last year.
“If you look at the incoming data since the last meeting, (there is) clear improvement in the outlook for growth,” Powell said. “Inflation performed about as expected, and as I mentioned, some of the labor market data came in suggesting evidence of stabilization. So it’s overall a stronger forecast really.”
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