On July 31, local time, US President Donald Trump criticized Powell, describing him as an “awful Fed chairman” and stating that appointing Powell to the position was a mistake.
The Federal Reserve Board concluded its two-day monetary policy meeting on the 30th, announcing that it would maintain the federal funds rate target range at 4.25% to 4.50% unchanged. This marks the fifth consecutive decision by the Fed to keep interest rates steady, aligning with market expectations.
Recently, President Trump has repeatedly called for significant interest rate cuts from the Fed, even threatening to fire Powell and criticizing the Fed’s “lack of courage to act.” Early on the 30th, Trump once again urged the Fed to cut rates, stating that maintaining high interest rates is harming the public. (Xu Xiao)