Federal Reserve cuts US economic growth outlook amid Trump tariffs
Officials raise inflation forecast to 2.7% this year, as Fed chair Jerome Powell says uncertainty is ‘remarkably high’
Officials at the US Federal Reserve cut their US economic growth forecasts and raised projections for price growth as they kept interest rates on hold.
“Uncertainty around the economic outlook has increased,” the central bank said in a statement, as Donald Trump’s attempt to overhaul the global economy with sweeping tariffs sparks concern over inflation and growth.
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