During Wednesday’s FOMC press conference, Jerome Powell discussed how the economy was performing well before the trade war began and acknowledged that the tariffs were much larger than anticipated. As a result, the Fed has increased its projections for the risk of higher unemployment and inflation. 

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Mortgage lenders and prospective borrowers looking for relief from high interest rates will need to wait longer. In a widely expected decision on Wednesday, the Federal Reserve kept rates steady at a range of 4.25% to 4.5% following its two-day meeting.

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