Fed Holds Steady as Trump Pushes Back!
Federal Reserve Chair Jerome Powell reiterated during his June 24 testimony before Congress that the Fed will hold interest rates steady for now, citing concerns about near-term inflation impacts from tariffs and the need for additional data before any move 🚦
Despite signals that some Fed officials, like Christopher Waller and Michelle Bowman, favor a July rate cut, Powell emphasized a data-driven, wait‑and‑see approach, with markets now betting on Sept for potential easing
Meanwhile, President Trump escalates pressure, labeling Powell “hard‑headed” and demanding cuts to boost economic momentum
The Fed remains cautious, prioritizing inflation control over political pressure. Markets will closely watch next month’s inflation readings (June & July) for any shift in stance.