Federal Reserve decision pushes expectations for rate cuts in 2026 lower, as uncertainty over the impact of the Iran war, sluggish job growth and stubborn inflation weighs.

The Federal Reserve announces its decision on interest rates.

The Federal Reserve did not cut its influential fed funds rate this afternoon. However, central bankers released a report detailing their projections for various economic indicators at 2 p.m. Eastern Time.

In a press conference following the outcome of the FOMC meeting, Fed Chair Jerome Powell reiterated the uncertainty the war creates ​for the outlook.

Bitcoin started trading higher after the Federal Reserve announced it would maintain its current interest rate. The benchmark cryptocurrency was trading around $71,600 right before the Fed announcement,

The Fed is widely expected to hold interest rates steady this week. But its new forecast will hint at where savings and CD yields may be headed later this year.

Looking to buy a home or refinance your current one? Here are the mortgage interest rates you need to know first.