US Stock Market Live: Dow futures erase early losses; Powell says will not rush to cut rates
Published on 08/05/2025 05:39 AM
The Federal Reserve kept interest rates at the target range of 4.25% to 4.5% at the conclusion of its May meeting. The policy-setting Federal Open Market Committee noted that “the risks of higher unemployment and higher inflation have risen.”
The central bank is walking a fine line: It’s facing uncertainty around President Donald Trump’s tariffs and economy that shows some signs of resilience – take April’s payrolls – as well as weakness – like the latest gross domestic product report.
Fed Chair Jerome Powell knocked down any notion of taking preemptive rate cuts as inflation is still running above target. “It’s not a situation where we can be preemptive, because we actually don’t know what the right responses to the data will be until we see more data,” Powell said.
Futures on Wall Street erased early losses and are now trading around the flat line after the US Federal Reserve, on expected lines, left interest rates unchanged overnight.
The Dow futures are 20 points lower, while the S&P 500 and Nasdaq futures are at the flat line.
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On expected lines, the Fed left interest rates unchanged. Lots of overnight developments to track and we’ll update you with all of them.
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