US EditionFed holds rates steady but sees first double dissent in three decades
UNITED STATES, JUL 30 – Two Federal Reserve governors dissented in the decision to hold rates steady amid ongoing uncertainty about tariff-driven inflation and economic growth, with U.S. GDP rising 3% last quarter.
- On Wednesday, July 30, 2025, the Federal Reserve kept rates at 4.25%-4.5% after its July 29-30 policy meeting, marking the fifth consecutive hold.
- Amid mounting pressure, President Donald Trump demanded lower rates and criticized the Fed’s $2.5 billion renovation, but officials cited tariff data needs.
- Highlighting division within the Fed, Fed Governor Christopher Waller and Vice Chair for Supervision Michelle Bowman cast dissenting votes, marking the first dual dissent since 1993, while nine others backed holding rates steady.
- Following the Fed’s decision, U.S. stock indexes drifted lower and Treasury yields rose after a report showed stronger-than-expected spring growth.
- Futures show a roughly two-thirds chance of a quarter-point cut as Powell awaits two jobs reports and inflation prints before the Sept. 16-17 decision.
211 Articles
211 Articles
Powell Announces Rate Decision as Trump and Fed Governors Push for Rate Cut
The Federal Reserve held interest rates steady despite strong economic growth and pressure from President Trump, sparking questions over affordability and policy motives. Key Facts: The Fed kept interest rates unchanged following a 3% GDP growth in the second quarter. President Trump criticized Fed Chair Jerome Powell for not lowering rates, dubbing him “Too Late.” Reporters pressed Powell on the impact of high rates on mortgage affordability a…
Federal Chairman Powell Says Interest Rates Holding to Quickly Respond to Any Economic Developments
by Natalia Mittelstadt Federal Reserve Chairman Jerome Powell said Wednesday regarding the central bank’s decision to keep interest rates steady that it will allow the central bank to quickly respond to any economic developments. “My colleagues and I remain squarely focused on achieving our dual mandate goals of maximum employment and stable prices for the benefit of the American people,” Powell said during a press conference. “Despite elevate…
U.S. stocks were mostly lower on Wednesday as Federal Reserve Chairman Jerome Powell dampened hopes for a September interest rate cut. The Dow Jones Industrial Average, which tracks the 30 largest U.S. companies, fell 0.38 percent to 44,461.28. The S&P 500 index fell 0.12 percent to 6,362.90, while the tech-heavy Nasdaq Composite index gained 0.15 percent to 21,129.67.
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