https://www.siliconvalley.com/2025/05/12/jill-on-money-consumers-feel-the-heat-amid-fed-meeting/

At its recent policy meeting, the Federal Reserve opted to hold short term interest rates steady at 4.25-4.50%, as it weighs how the Trump tariffs will cycle through the economy.

Tariffs have just begun to impact economic growth. First quarter growth (GDP) decreased at an annual rate of 0.3 percent, a substantial slide from the 2.4% expansion in Q4 2024.