Federal Reserve likely to stand pat on rates this week, deepening the gulf between Powell and Trump
UNITED STATES, JUL 29 – Trump administration begins planning for multiple Federal Reserve chair candidates amid Powell's uncertain departure and ongoing disputes over interest rate policies, with inflation at 2.7% in June.
- On Wednesday, the Federal Reserve is expected to leave its short-term rate unchanged for the fifth straight meeting, underscoring the divide between Chair Jerome Powell and President Donald Trump.
- Last week, Trump and White House officials ramped up their attacks on Powell over rates, then adopted a more restrained tone on Monday with British Prime Minister Keir Starmer.
- Fed officials penciled in just two reductions this year and one in 2026, with two governors expected to dissent for the first time since 1993, amid a healthy job market with unemployment at 4.1%.
- Trump debated firing Powell but backed off, adding to political pressure on the Fed, as critics questioned whether scrutiny of renovation costs aimed to justify such a move.
- Futures pricing indicates two rate cuts this year, with Wall Street futures expecting two more in 2026, as the Fed may start cuts later this year.
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Federal Reserve likely to stand pat on rates this week, deepening the gulf between Powell and Trump
The Federal Reserve is expected to leave its short-term interest rate unchanged on Wednesday for the fifth straight meeting, a move that will likely underscore the deep divide between how Chair Jerome Powell and President Donald Trump see the economy.
·United States
Read Full ArticleFederal Reserve likely to stand pat on rates this week
The Federal Reserve is expected to leave its short-term interest rate unchanged on Wednesday for the fifth straight meeting, a move that will likely underscore the deep divide between how Chair Jerome Powell and President Donald Trump see the economy
·United States
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Total News Sources88
Leaning Left8Leaning Right14Center45Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
12%
C 67%
R 21%
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