The Federal Reserve on Wednesday kept interest rates unchanged as central bank officials weigh the impact of President Donald Trump’s aggressive economic agenda.

The Fed is weighing inflation, recession indicators and uncertain trade policies. Here's how that impacts mortgage rates.

Fed Chair Jerome Powell repeated the word “uncertainty” when talking about the central bank’s economic outlook, using it at least 10 times. The Fed slightly lowered its growth projection and raised its forecast for inflation, but investors appeared more convinced the Fed is particularly attuned to concerns about growth.

The Federal Reserve kept its forecast for two rate cuts this year amid Trump's tariffs, which are expected to push up inflation and slow the economy

For better or worse, the Fed's relationship to home loan rates isn't direct or immediate. "While the Fed certainly can influence mortgage rates, investors are the true movers," sa