Federal Reserve Kicks Off May Meeting—What to Know

Fed Chair Jerome Powell is expected to wait for more clarity on the Trump administration’s policy changes.

Federal Reserve Chairman Jerome Powell testifies before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Feb. 11, 2025. Madalina Vasiliu/The Epoch Times

The Federal Reserve kicks off its two-day May policy meeting on May 6, and Chair Jerome Powell is expected to push back against President Donald Trump’s calls for interest rate cuts.

Investors overwhelmingly anticipate the rate-setting Federal Open Market Committee (FOMC) will leave the benchmark federal funds rate between 4.25 percent and 4.5 percent.