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The US Federal Reserve kept interest rates on hold, but signaled it might make two cuts this year, as Donald Trump continues to break with precedent and demand lower rates.

Policymakers at the American central bank lifted their projections for inflation this year, as the US president stands by his controversial tariff plans, and downgraded their estimates for economic growth.

Uncertainty has faded, they said, but remains significant. The Fed chair, Jerome Powell, cautioned that officials expect tariffs imposed by Trump to increase prices over the course of the summer.

“Increases in tariffs this year are likely to push up prices and weigh on economic activity,” Powell told reporters. “The effects on inflation could be short-lived, reflecting a one-time shift in the price level. It’s also possible that the inflationary effects could be more persistent.”

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Sylvia Tisdale believes in feeding the hungry so much that, at 70 years old, she attempted to climb Mount Kiliminjaro to raise awareness about food insecurity.

"The altitude got me," she said with a small chuckle, "but my daughter made it."

Three years later, the pastor at Epps Christian Center in Pensacola, Florida, is still passionate about the work she and her volunteers do to feed the hungry. So when one of those volunteers, Mike Stephens, wrote to his local newspaper to highlight the impact of cuts by the Trump Administration to limit expenditures to food pantries and soup kitchens through the United States Department of Agriculture, she understood why.

"It hits people hard when they come and can’t get as much food," she told USA TODAY, "and it really hurts my volunteers when they have to turn people away."

The USDA announced cuts in March to the Local Food Purchase Assistance program and a similar program, the Local Food for Schools Cooperative Agreement totaling more than $1 billion. Scheduled deliveries of food through the USDA's Emergency Food Assistance Program were halted or cut back.

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Procter & Gamble will cut up to 7,000 jobs, or approximately 6% of its global workforce, in the next two years as the maker of Tide detergent and Pampers diapers wrestles with tariff-related costs and customers who have grown anxious about the economy.

The job cuts, announced at the Deutsche Bank consumer conference in Paris on Thursday, make up about 15% of its current non-manufacturing workforce, said chief financial officer Andre Schulten.

“This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years,” Schulten said. “It does not, however, remove the near-term challenges that we currently face.”

In a series of departures announced in a matter of weeks, the agency’s entire top rung is set to turn over as Brian Quintenz, President Trump’s nominee for CFTC chair, prepares to take the reins.

Commissioners Summer Mersinger and Christy Goldsmith Romero both plan to depart by the end of the week, while fellow Commissioner Kristin Johnson has said she will leave “later this year.”

Acting CFTC Chair Caroline Pham has promised to remain at the agency until Quintenz is confirmed, at which time she too will depart. The commission, which typically has five members, has been short one person since former Chair Rostin Behnam stepped down in January.

The relatively low-profile agency is expected to play a key role in regulating the digital asset market alongside the Securities and Exchange Commission (SEC).

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