(AURN News) — The wild economic ride of President Donald Trump’s second term continued Wednesday as the Federal Reserve announced it would hold interest rates steady.
“The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook has increased further. The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen,” the Fed said in a statement.
The move comes as uncertainty around tariffs continues to ripple through the economy. Some economists argue it is the American consumer who ends up footing the bill as corporations pass on higher costs.
Trump has defended his approach, insisting his tariff plan is about forcing other countries to pay their fair share. But as inflation remains high and concerns grow over stagnating growth, some warn the U.S. may be headed toward stagflation.
Click play to listen to the AURN News report from Jamie Jackson:
