Powell emphasises the elevated prevailing uncertainty, downplaying interpretations of the dot plot
The June FOMC meeting was a relatively benign affair, as the Fed was not expected to shift much from its wait-and-see policy. Indeed, the FOMC continues to suggest that policy will remain in place as it gathers more data on the impact of tariffs over the summer and it continues to emphasise that it is in a good position to respond to shocks if, as and when they arise.
For more, please see full note.