Archive · 30 Jul 2026
Fed Holds Rates Steady Amid Inflation Concerns
The Federal Reserve, the bank that sets U.S. interest rates, decided not to raise or lower the main rate.
They kept it at 3.5% to 3.75%.
This happened after a meeting where most members said to keep it the same, but a few wanted a small increase.
The decision made stock markets drop a bit.
The Fed Chair, Kevin Warsh, said they want to keep prices stable and jobs growing at the same time.
President Trump praised Warsh and said the board is making the decision.
The next big meeting will be in September before the midterm elections.
Fed keeps benchmark interest rate at 3.5% - 3.75% after split vote.
Stock markets fall: Dow down 2.19%, Nasdaq down 1.74%.
Nine FOMC members vote to hold rates; three, including Neel Kashkari, push for hike.
Fed Chair Kevin Warsh defends decision, citing inflation and job growth balance.
Trump praises Warsh, deflects blame to FOMC amid rising inflation and Gulf conflict.
- Who
- Federal Reserve, Kevin Warsh, Neel Kashkari, Donald Trump, FOMC members
- What
- Fed decided to keep benchmark interest rates unchanged
- When
- Wednesday, June 2024
- Where
- United States, New York
- Why
- To address inflation threats while maintaining job growth
- Federal Reserve rate
- 3.5% - 3.75%
- FOMC vote
- 9 to hold, 3 to hike
- Stock market impact
- Dow down 2.19%, Nasdaq down 1.74%
- Inflation rate (CPI)
- 3.5% YoY
- Next Fed meeting
- September 2024