Fed Resists Trump’s Pressure, Maintains Steady Rates Amid Hawkish Tone
TL;DR Summary
The Federal Reserve signaled it may hold interest rates steady through September despite President Trump's calls for a rate cut, with Fed Chair Jay Powell emphasizing a data-dependent approach amid ongoing trade uncertainties and economic slowdown concerns. Market reactions included a rally in the dollar and a sell-off in short-term Treasuries, as traders adjusted their expectations for future rate cuts.
- Jay Powell strikes hawkish tone as Fed defies Donald Trump’s calls for rate cut Financial Times
- Takeaways from the Fed’s latest decision, which got pushback from officials siding with Trump CNN
- Fed leaves rates steady despite Trump pressure, gives no hint of September cut Reuters
- 2 Fed officials break ranks as Trump wages war on Powell Politico
- User Clip: Clinton talking to Speaker C-SPAN
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