Powell doesn't bow to Trump pressure; US Fed keeps interest...

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Powell doesn't bow to Trump pressure; US Fed keeps interest rate unchanged - here's what the FOMC statement said

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The Federal Reserve decided to maintain the federal funds rate at 4.25%-4.50%, assessing incoming data and economic outlook. Despite Trump's call for rate reductions following a 3% GDP growth in the second quarter, experts contextualize this data, noting a slower overall growth rate for the first half of 2025. Trump's stance contrasts with traditional economic thinking.

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