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Federal Reserve likely to stand pat on rates this week, deepening the gulf between Powell and Trump

The Federal Reserve is anticipated to maintain its current interest rate level this week despite ongoing economic uncertainty and pressure from President Trump.
This decision follows mixed economic data including a 0.5% contraction in Q1 US activity and stronger-than-expected job growth in June.
Treasury Secretary Scott Bessent confirmed that the Trump administration plans to nominate a successor to Fed Chair Jerome Powell this fall.
Inflation remains above the Fed’s 2% target at 2.7% in June, and Powell’s current rate range stands at 4.25 to 4.5 percent.
Stabilizing rates underscores continued division between Powell’s cautious approach and Trump’s calls for faster cuts, suggesting further tension ahead.

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