Federal Reserve Chair Jerome Powell has said repeatedly the central bank will only make a decision to raise or lower rates after careful consideration.

As of April 2025 neither the president nor congress of the US can dismiss a chairman before the end of a term.

Key Takeaways. At its last two meetings, the Fed left interest rates on pause, halting a stretch of three rate cuts in late 2024. Renewed reductions are eventually expected, with financial markets currently pricing in at least three rate cuts by the end of this year.

Economists say no rate cut is likely in May The Fed will raise rates to cool down an overheated economy and clamp down on inflation. The Fed can cut short-term interest rates to stimulate the economy and revive job growth.