During the March 18, 2026 press conference, Chair Powell reaffirmed the Fed's commitment to its dual mandate of maximum employment and stable prices amid a steadily growing U.S. economy. While unemployment remains at 4.4%, job growth has slowed due to declining labor force participation and immigration. Consequently, the Federal Open Market Committee (FOMC) decided to keep the policy interest rate unchanged at 3.5% to 3.75%, viewing it as appropriate for meeting their inflation targets, despite inflation edging higher to 2.8%. Chair Powell noted external uncertainties stemming from Middle East conflicts affecting oil prices, which may impact future inflation and consumption. He emphasized the importance of monitoring inflation expectations carefully, highlighting that ongoing inflation may partially arise from tariffs. The discussions underscored the careful balancing of monetary policy in light of risks to employment and inflation in a challenging economic environment.