Summary of the Federal Reserve FOMC statement and Powell's speech points: The Federal Reserve's policy is moderately restrictive.

[The Federal Reserve (FED) FOMC statement and Powell’s speech summary: The Federal Reserve’s policy is moderately restrictive] The Federal Reserve announced that it will maintain the federal funds interest rate target range at 4.25% to 4.50%, marking the third consecutive time since January this year that the Federal Reserve has kept interest rates unchanged. The FOMC statement shows that the committee judges the risks of rising unemployment and inflation have intensified. Inflation remains at slightly elevated levels. Uncertainty regarding the outlook for the U.S. economy has further increased. Economic activity continues to expand at a steady pace. Powell stated: The Federal Reserve (FED) does not need to rush to adjust the Intrerest Rate. The FED’s policy is moderately restrictive. Trump’s calls for a rate cut do not affect the FED’s work at all. Inflation has declined significantly. Short-term inflation expectations have risen, while long-term inflation expectations remain in line with the target. Survey respondents pointed out that tariffs are the main factor driving inflation expectations. The impact of tariffs has been much greater than expected so far.