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Federal Reserve Votes to Hold Interest Rates Steady, with Two Rare Dissenting Votes

HeadlineJul 31, 2025

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.”

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