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Story summary
- The Federal Reserve will keep the federal funds rate at 3.5%-3.75% and expects no cut until the second half of 2027.
- Chicago Fed President Austan Goolsbee and St. Louis Fed President Alberto Musalem opposed cuts because inflation remains above the 2% goal.
- Employers added 115,000 jobs in April, surpassing the forecast of 65,000.
- Bank of America Global Research sees no 2026 rate cut, citing 3.3% inflation and solid job growth.
