Some economists are now contemplating what was previously unthinkable — and they are focused on the personal-consumption expenditures price index

The Federal Open Market Committee is highly likely to hold interest rates at their current level at their next meeting, but cuts later in 2025 remain on the table.

Federal Reserve policymakers got fresh reasons to hold short-term borrowing costs steady after government data signaled renewed strength in the U.S. job market, with traders now betting the U.S. central bank will wait until June to cut interest rates again and end its rate-cutting cycle there.