Fed Decision Summary – June 18, 2025 Fed holds interest rates steady for the fourth consecutive meeting. Uncertainty remains, though the Fed notes it has moderated somewhat. 2025 GDP growth forecast cut to 1.4%, while inflation estimate rises to 3.0%. Median projections now indicate 50 basis points of rate cuts in 2025. Fed sees rates at 3.6% in 2026 and 3.4% in 2027, per median forecast. Interest rate futures now price in higher odds of rate cuts starting in September. The Fed’s continued pause comes despite pressure from former President Trump, who is calling for a 100 basis point cut.