US Fed Meeting Recap: What Did Fed Chair Jerome Powell Announce In January 2025 FOMC Meet?

The US Federal Reserve’s Federal Open Market Committee (FOMC) is set to announce its policy decision on Mar. 19 at 2 p.m. ET (11:30 p.m. IST). With market uncertainty increased by the tariff measures introduced by US President Donald Trump, investors will closely watch Federal Reserve Chair Jerome Powell’s remarks.

The FOMC meets eight times a year. In 2025, this will be its second meeting. The first meeting of 2025 was held on Jan. 28 and 29.

This was the first Fed meeting since Donald Trump became US President for the second time. During the meeting, the Fed decided to hold interest rates steady. The FOMC maintained the federal funds rate within the 4.25% to 4.50% range. It came after three consecutive rate cuts since September 2024.

The Fed said that economic activity had continued to grow at a steady pace. On the labour market, it showed some optimism. "The unemployment rate has stabilised at a low level in recent months and labour market conditions remain solid. Inflation remains somewhat elevated," the US Fed statement read. 

The FOMC reiterated its objectives of achieving maximum employment and maintaining inflation at a 2% rate in the long run. It also added that any future adjustments to federal funds rates would be based on an evaluation of economic data, market conditions and risks.

During the press conference, Powell said that the labour market was not a major driver of inflation. He added that the Fed would need to see “real progress on inflation or some weakness in the labour market” before considering making adjustments.

In the March 2025 meeting, the interest rate decision is set to be announced today (Mar. 19) at 2 p.m. ET (11:30 p.m. IST). The FOMC will also release its economic projections. Powell will hold a press conference at 2:30 p.m. ET (12 a.m. IST, Mar. 20) to outline the policy outlook and respond to media queries.

The FOMC meeting can be watched live on the Official YouTube channel of NDTV Profit. The live stream will also be available on official social media platforms of Federal Reserve.

The next FOMC meeting will be held on May 6 and 7, 2025.