Fed Holds Interest Rates Steady Despite Trump’s Calls for Cuts

Summary:
The Federal Reserve maintained the benchmark interest rate at 4.25–4.50%, despite persistent pressure from Trump and some market analysts. Two Fed governors dissented, hoping for earlier cuts amid stagnant growth.

Why It Matters:
Steady rates signal a cautious Fed stance amid inflation and tight labor conditions. The decision affects mortgages, credit costs, and market sentiment heading into the fall.

Source: Reuters