Federal Reserve Holds Rates Steady Amid Criticism from Trump
President Trump criticizes Fed Chair Powell’s decision to maintain interest rates, while the Fed remains cautious due to economic uncertainties from tariff impacts.
Summary
The Federal Reserve held interest rates steady at 4.25%-4.50% on May 7, amidst ongoing economic uncertainty tied to President Trump's tariff policies. Fed Chair Jerome Powell emphasized that the central bank aims to monitor inflation and employment trends before making any further moves. President Trump slammed Powell as a "fool" for not cutting rates sooner, despite showing resilience in the labor market and an annual inflation rate of 2.4%. Meanwhile, the Bank of England cut its rate to 4.25% due to global growth concerns. The Fed faces pressure from Trump, impacting its decision-making process.
Articles (12)
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Rolling Stone·25d· "…The economy is the weakest it’s been in years, and practically every reputable financial institution is warning that hard times are coming if the president doesn’t pump the brakes."
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