When is the Fed interest rate decision in March? Date, time, and what’s next

The Federal Open Market Committee meets eight times a year to discuss the state of the US economy in order to set interest rates to carry out the Federal Reserve’s dual mandate of maintaining price stability and maximum employment. “Keeping our economy healthy is one of the most important jobs of the Federal Reserve,” states the US central bank.

Policymakers are gathering this week for their second meeting this year. It is largely expected that they will keep the benchmark interest rate steady in the 4.25%-4.50% range. However, investors will be scanning the tea leaves from Chairman Jerome Powell press conference after the FMOC March meeting wraps up on Wednesday.

The effect of Trump’s policies will be front and center

The Fed began cutting interest rates in September last year for the first time since it began an aggressive tightening of monetary policy in 2022 to tame rampant inflation in the wake of the covid-19 pandemic. After three consecutive cuts at the end of 2024, lowering interest rates by a full percentage point, policymakers kept the benchmark steady in the 4.25%-4.50% range at their January meeting.

Investors will be listening to what chairman Powell has to say about how President Trump’s policies are affecting the US economy. As well, they want to see the FMOC members’ prediction for future rate cuts in the “dot plot” which is released on a quarterly basis.

The last one, released in December, revised the consensus forecast of rate cuts this year from four down to two, which factored in projections of a new Trump presidency. Now after two months in office, in which he has been aggressively revamping the government and implementing steep tariffs that have roiled stock markets, investors will be looking for any changes to policymakers’ forecast.

There are concerns that Trump’s chaotic tariff policies could stoke inflation once again as well as tanking the US economy, creating a what has been dubbed a “Trumpcession.” Stock markets recouped some of the loses on Friday after falling by 10% from their highs over the past month in response to whiplash caused by on again, off again tariff announcements from Trump.

Some analysts think the Fed may implement more interest rate cuts this year than predicted as concerns about a weakening of the US economy may Trump those about inflation. Luke Tilley, chief economist for Wilmington Trust, told Yahoo! Finance that while he expects the Fed to forecast two rate cuts, policymakers will in the end cute rates four times, beginning when they meet next time 6-7 May.

Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all.

Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.