The Federal Open Market Committee will keep the Funds rate unchanged at its May 7 meeting and Chair Powell will reiterate comments he’s made previously. In his opening statement after the March 19 FOMC meeting Chair Powell emphasized that uncertainty is driving monetary policy. “ The new administration is in the process of implementing significant policy changes in four distinct areas—trade, immigration, fiscal policy, and regulation. It is the net effect of these policy changes that will matter for the economy and for the path of monetary policy. While there have been recent developments...
