Federal Reserve Chair Jerome Powell speaks as Fed holds interest rates steady — 7/30/2025

Federal Reserve Chairman Jerome Powell delivers remarks following the Fed's two-day policy meeting on Wednesday.

A divided Federal Reserve on Wednesday voted to keep its benchmark interest rate steady, despite a barrage of criticism from President Donald Trump and dissents from two top officials.

The Federal Open Market Committee, the group that sets the overnight borrowing rate, voted 9-2 to stay on hold. The federal funds rate will continue to be set in a range between 4.25%-4.5%. The level sets what banks charge each other for overnight lending, but influences a slew of other rates across the economy.

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Federal Reserve Chair Jerome Powell speaks as Fed holds interest rates steady — 7/30/2025