Federal Reserve cuts US economic growth outlook amid Trump tariffs
1. Fed cuts US economic growth forecast to 1.7% for this year. 2. Inflation projections raised to 2.7%, up from previous 2.5%. 3. High uncertainty impacts economic outlook, affecting future spending. 4. S&P 500 rose by 1.1% in response to Fed's announcement. 5. Tariffs contribute to inflation concerns, affecting investor sentiment.