The Federal Reserve is expected to maintain current interest rates through the first half of 2025 before implementing two rate cuts beginning in September, according to a Bloomberg News survey of economists. President Trump’s trade policies have created uncertainty, causing economists to lower growth forecasts while raising inflation projections. New tariffs on major trading partners like China, Canada, and Mexico have unsettled financial markets and raised concerns about potential stagflation—a combination of slowing economic growth and persistent inflation.

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What the IMF’s Inflation Forecast Shift Means for Gold
The IMF spent weeks building its 2026 economic forecast. On May 4, its managing director declared it obsolete — and the reasons why create the clearest structural signal for gold investors this year.




