Fed Dissenters Support July Rate Cut Amid Trump-Powell Tensions
TL;DR Summary
The Federal Reserve kept interest rates steady for the fifth consecutive meeting, facing its first double dissent since 1993 from members advocating for a rate cut due to concerns over a weakening labor market and temporary inflationary pressures from tariffs, amid escalating attacks from President Trump on Fed Chair Powell and the institution's policies.
- Fed Dissenters Defend Call for July Rate Cut as Trump Intensifies Attacks on Powell The New York Times
- Powell didn’t just refuse to deliver a rate cut—he also hinted a raise could have been on the cards Fortune
- US yields climb as Fed's Powell uncertain about September easing Reuters
- 2 Fed officials break ranks as Trump wages war on Powell Politico
- Despite double dissent, Jerome Powell retains his hold on markets The Economist
Reading Insights
Total Reads
0
Unique Readers
2
Time Saved
6 min
vs 7 min read
Condensed
96%
1,331 → 54 words
Want the full story? Read the original article
Read on The New York Times