US Fed Rate Decision Date and Time: Federal Reserve to announce interest rates today, all eyes on Jerome Powell's speech

US Fed Meet Date and Time: The US Federal Reserve is set to announce its decision on benchmark interest rates today, March 19, 2025, amid market uncertainty triggered by President Donald Trump’s new tariff policies. The Federal Open Market Committee (FOMC), the Fed’s policy-making body, began its two-day deliberations on March 18. Markets widely expect the central bank to maintain the current interest rate, with minimal chances of a rate cut.  

When to watch FOMC meeting?

The two-day FOMC meeting, which started on March 18, concludes today. The key announcements will take place as follows:  

- Interest rate decision: 11:30 pm IST (2:00 pm ET) on Wednesday  
- Economic projections release: 11:30 pm IST (2:00 PM ET)  
- Fed Chair Jerome Powell’s press conference: 12:00 am IST on Thursday (2:30 pm ET on Wednesday)  

The FOMC meets eight times a year, with additional emergency meetings when required. This is the second scheduled meeting of 2025; the first took place on January 28-29.  

Where to watch FOMC announcement?

The Federal Reserve will stream the announcement and press conference live on its official platforms, including its YouTube channel and X (formerly Twitter). The event will also be available for viewing on the Fed's official website.

Previous FOMC meeting highlights

In its last policy review on January 28-29, the US Federal Reserve decided to keep interest rates unchanged, maintaining the federal funds rate between 4.25 per cent and 4.50 per cent. Fed Chair Jerome Powell stated that the central bank would not rush to cut rates unless inflation and employment data showed clear improvement.

This meeting was the first since Donald Trump began his second term as US President. The Fed chose to hold interest rates steady after three consecutive rate cuts since September 2024.

The central bank noted that the economy was growing at a steady pace. It also expressed optimism about the job market, stating that the unemployment rate had remained low and labour market conditions were strong. However, inflation was still slightly high.

The FOMC reaffirmed its long-term goal of keeping inflation at 2 per cent while ensuring maximum employment. It also mentioned that future rate changes would depend on economic data, market conditions, and risks.

During his press conference, Powell said the labour market was not a major cause of inflation. He added that the Fed would need to see either real progress in lowering inflation or signs of weakness in the job market before making any policy changes.