By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Concealed RepublicanConcealed Republican
  • Home
  • Latest News
  • Guns
  • Politics
  • Videos
Reading: Fed Chair Powell defies Trump, keeps interest rates unchanged despite good economic reports
Share
Notification Show More
Font ResizerAa
Font ResizerAa
Concealed RepublicanConcealed Republican
  • News
  • Guns
  • Politics
  • Videos
  • Home
  • Latest News
  • Guns
  • Politics
  • Videos
Have an existing account? Sign In
Follow US
  • Advertise
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Concealed Republican > Blog > News > Fed Chair Powell defies Trump, keeps interest rates unchanged despite good economic reports
News

Fed Chair Powell defies Trump, keeps interest rates unchanged despite good economic reports

Jim Taft
Last updated: July 30, 2025 9:21 pm
By Jim Taft 14 Min Read
Share
Fed Chair Powell defies Trump, keeps interest rates unchanged despite good economic reports
SHARE

The Federal Reserve of the U.S. disappointed many hopes when Chairman Jerome Powell announced Wednesday that the Fed would keep interest rates the same despite pressure to lower them.

President Donald Trump has been hammering away at the Fed to lower rates, but Powell, whom Trump has nicknamed “Too Late,” has said that the president’s tariff policies have made the federal banks cautious about dropping rates too early.

‘We have seen steady employment numbers, a solid retail sales report, and the first print of Q2 GDP came in above expectations.’

Earlier on Wednesday the economy was reported to have grown at 3% in the period between April and June, a strong indicator that a recession is not in the near future. That was higher than expected and boosted hopes that the Fed might lower rates.

“‘Too Late’ MUST NOW LOWER THE RATE. No Inflation! Let people buy, and refinance, their homes!” wrote the president on Truth Social.

Powell has set a 2% threshold for inflation at which he would be comfortable dropping interest rates, but in April the consumer price index hit 2.3%, and it climbed to 2.7% in June. The next CPI report will be released in August.

Some noted that two of the Fed governors, Christopher Waller and Fed Vice Chair for Supervision Michelle Bowman, voted in favor of lowering rates, which was a surprising dissent from the majority opinion.

Economic expert and Blaze Media contributor Carol Roth wrote in a statement to Blaze News that the split decision by the Fed likely meant that the organization is considering dropping rates the next time the governors meet.

“The Fed has been consistent about telegraphing its intentions ahead of time, so it is no surprise that the Fed held their target interest rates steady. However, with two dissents from Fed governors Waller and Bowman, the odds of a September rate cut are likely to increase in the days ahead,” she wrote via email.

“The biggest challenge to a Fed rate cut today was actually good economic news. That is, we have seen steady employment numbers, a solid retail sales report, and the first print of Q2 GDP came in above expectations,” she added. “It is difficult to make the argument that the Fed’s monetary policy is holding back the economy when solid economic data continues to come out.”

RELATED: Trump rips into Fed Chair Jerome Powell for not lowering interest rates and suggests he’ll be fired soon

  

Trump has also criticized Powell for a renovation at the Federal Reserve headquarters that has ballooned to cost more than $2.5 billion. Some in his administration have called for Powell to be investigated for possible fraud in the renovation, and others have called for his resignation. On Thursday Powell and the president met with news cameras rolling at the worksite and seemed to calm some of the controversy.

Powell was first nominated to the chairmanship by Trump in his first term. The president has since indicated many times that he would like to fire Powell, and the chairman has responded by saying that he would not step down if asked by Trump.

“We’re never going to be influenced by any political pressure,” said Powell in April. “People can say whatever they want. … That’s not a problem, but we will do what we do strictly without consideration of political or any other extraneous factors.”

The Federal Reserve does not determine mortgage rates directly but indirectly, by setting the federal funds rate by which commercial banks borrow money.

Like Blaze News? Bypass the censors, sign up for our newsletters, and get stories like this direct to your inbox. Sign up here!



Read the full article here

You Might Also Like

Leftists' favorite F-word — and why they'll never drop it

From ‘F**k Trump’ to handshakes: ‘No Kings’ rally in Texas stays civil

Alleged illegal alien hit man wanted for 4 murders in Venezuela was allowed into US under Biden, ICE says

Diddy Trial Highlights Music Mogul’s Hypocrisy on Guns

Clint Eastwood refuses to slow down as he turns 95, working on new movie

Share This Article
Facebook X Email Print
Previous Article Rand Paul supports the prospect of abolishing the Fed, with a major proviso Rand Paul supports the prospect of abolishing the Fed, with a major proviso
Next Article Hochul’s Bizarre Claim About Alleged Shooter’s Carry Permit Gets Much-Needed Fact-check Hochul’s Bizarre Claim About Alleged Shooter’s Carry Permit Gets Much-Needed Fact-check
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

- Advertisement -
Ad image

Latest News

400 Texas National Guard Troops Headed to Illinois as ‘Chicago Has Become a War Zone’ [WATCH]
400 Texas National Guard Troops Headed to Illinois as ‘Chicago Has Become a War Zone’ [WATCH]
Politics
Whoda Thunk – Sanctimonious Green Grifters Fumbled the Bags
Whoda Thunk – Sanctimonious Green Grifters Fumbled the Bags
Politics
Virginia Attorney General Isn’t Buying ‘Fake’ Apology From Opponent Who Wished Death On His Political Rival
Virginia Attorney General Isn’t Buying ‘Fake’ Apology From Opponent Who Wished Death On His Political Rival
Politics
GOP lawmaker throws a wrench into contested Senate primary in Texas
GOP lawmaker throws a wrench into contested Senate primary in Texas
News
Wesley Hunt announces Texas Senate run in Republican primary battle
Wesley Hunt announces Texas Senate run in Republican primary battle
News
New Details on Deep State ‘Grand Conspiracy’ Against Trump Revealed by Devin Nunes [WATCH]
New Details on Deep State ‘Grand Conspiracy’ Against Trump Revealed by Devin Nunes [WATCH]
Politics
© 2025 Concealed Republican. All Rights Reserved.
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?