Federal Reserve Chairman Jerome Powell has decided to keep interest rates steady again, drawing the ire of President Donald Trump.
Powell is due to give his speech at 2:30 p.m. The target rate is currently between 4.25% and 4.5%.
The Fed chairman has been under intense pressure from Trump to lower interest rates, pressure he has so far resisted over fears that the president’s tariffs could cause inflation. Trump has repeatedly threatened to remove Powell from his position if he doesn’t change course, increasing his personal attacks against him.
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Though indirectly critical of Trump’s tariff policies, Powell has so far avoided any retaliatory attacks.
The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average were all in positive territory shortly before Powell’s announcement.
