The Federal Reserve voted Wednesday to hold interest rates steady, defying pressure from President Trump, who visited the Fed last week to personally lobby for lower rates. In a rare move, two Republicans on the Fed dissented, expressing support for lowering rates. During a press conference, Fed Chair Jerome Powell emphasized the importance of the Fed remaining independent. Trump has repeatedly publicly attacked Powell, calling him a “Total and Complete Moron,” a “numbskull” and a “disaster.”
Federal Reserve Votes to Hold Interest Rates Steady, with Two Rare Dissenting Votes
HeadlineJul 31, 2025
