At the June 2025 monetary policy meeting, the Fed kept the federal funds rate unchanged as expected by the market, while reiterating its policy inclination to cut interest rates twice this year. The signals released by this meeting were relatively mild, and the market reaction was flat. Citigroup described it as a “lackluster” policy meeting. The Fed’s updated economic forecasts showed only slight adjustments to expectations for GDP growth, unemployment and inflation, but the “dot plot” revealed obvious differences among internal decision-makers: 8 policymakers expected two rate cuts by the end of 2025, reflecting concerns about slowing economic growth and pressures in the job market; 7 policymakers tended to keep interest rates unchanged, highlighting the dilemma of fighting inflation and coping with policy uncertainty.