Fed Holds Interest Rates Unchanged Despite Trump’s Calls For Cuts
The Federal Reserve announced on Wednesday that it would continue to leave interest rates unchanged. The central bank’s decision to maintain its target range at 4.25% to 4.5% was in line with economists’ expectations …
The Federal Reserve announced on Wednesday that it would continue to leave interest rates unchanged.
The central bank’s decision to maintain its target range at 4.25% to 4.5% was in line with economists’ expectations. The central bank similarly declined to cut interest rates in its June meeting.
The Fed has notably been facing intense pressure from President Donald Trump and other Republicans to cut interest rates this year. The president has repeatedly criticized Federal Reserve Chairman Jerome Powell for not cutting rates, and has previously referred to him as a “knucklehead” and “too late Powell.” Similarly, House Speaker Mike Johnsontold