#FOMCMeeting The Federal Reserve is making a decision this week: will they lower interest rates?
Federal Reserve Chairman Jerome Powell, speaking at a press conference after the last FOMC meeting in May, faced criticism from President Donald Trump for not lowering interest rates this year.
In recent weeks, Federal Reserve officials have stated that they do not want to lower interest rates from their current high levels, as they fear that Trump's tariffs will again spur high inflation, which had fallen to the Fed's target of 2% per year after a sharp rise in the post-pandemic era. For his part, Trump has often berated the Fed for not lowering rates this year, even calling Fed Chairman Jerome Powell a "dunce."
No FOMC member advocated for a change in policy, so the decision to maintain it should be straightforward," stated Michael Feroli, chief economist for the U.S. at JPMorgan Chase.