Fed Holds Rates Steady Amidst Trump's Pressure, Cites Robust Economic Growth
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Firstpost•29-01-2026, 00:55
Fed Holds Rates Steady Amidst Trump's Pressure, Cites Robust Economic Growth
- •The US Federal Reserve maintained interest rates at 3.50-3.75% despite President Donald Trump's calls for cuts.
- •The decision, made at the first policy meeting of the year, was based on robust economic growth and a stabilizing unemployment rate.
- •The Federal Open Market Committee voted 10-2, with Stephen Miran and Christopher Waller dissenting, advocating for a quarter-percentage-point cut.
- •This marks a pause after three consecutive quarter-point rate cuts, driven by concerns over a cooling jobs market.
- •Trump has intensified pressure on the Fed, attempting to remove Governor Lisa Cook and investigating Chairman Jerome Powell.
Why It Matters: The Fed resisted Trump's pressure, holding interest rates steady due to strong economic indicators.
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