The unemployment rate remained at a low 4.2%
A rush to buy cars and other goods fuelled a 0.7% rise in consumer spending in March
Recession worries grow and Americans pull back on spending
U.S. growth forecast at 1.8% with global GDP at 2.8% for 2025
Economists worry that if the Fed's longstanding independence is questioned, it could disrupt markets and add to economic uncertainty in the U.S.
U.S. central bank seeks clarity on impacts of Trump's moves on immigration, taxation, regulation, and tariffs
Core prices rose 2.8% compared with a year ago, down from 3.1% in February
U.S. central bank minutes reveal concerns over rising prices and slowing job growth
Powell said the tariffs are “significantly larger than expected” and that their inflationary effect could be "persistent”
Consumer spending rose 0.4% in February, though the gain was just 0.1% after adjusting for inflation