The U.S. Federal Reserve decided to keep interest rates steady at 4.25%-4.5%, rejecting President Trump's demands for a significant cut. Instead, forecasts indicate lower growth and higher inflation, and only modest cuts may occur by year-end. Amid this, Trump criticized Fed Chairman Jerome Powell, arguing that he could do a better job. Powell has maintained the Fed’s stance on independence, indicating that future decisions will rely on economic data rather than political pressure, amid investors speculating on potential rate cuts in September.
Despite constant pressure from President Trump, the U.S. Federal Reserve has opted not to cut interest rates, maintaining them at 4.25%-4.5% as economic forecasts adjust.
Trump's comments reflect a significant misunderstanding of the Fed's independence, with his aggressive stance reminiscent of failed economic strategies of populist leaders.
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