Fed holds rates, despite pressure from White House
Experts say stance is in response to Trump’s trade policies and lament his attacks on central bank
The Federal Reserve held rates at 4.25–4.5% today (July 30).
At the press conference following the meeting of the Federal Open Market Committee (FOMC), Fed chair Jerome Powell said the decision reflected the fact that trade negotiations were in flux, and that people were starting to get a better sense of the effective levels of tariffs.
“There are many, many uncertainties left to resolve,” he said. “We are learning more and more. It doesn’t feel like we’re very close to the end of that process.”
“I
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