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The Federal Reserve holds interest rates steady, with internal divisions deepening and its statement consistent with June’s.

2026.07.30 02:10:47

Federal Reserve officials held interest rates steady, but the vote was split, signaling that some policymakers are increasingly convinced of the need for a rate hike to curb rising inflation. Logan, Harker, and Kashkari all cast dissenting votes, advocating for a 25 basis point increase. This marks the fifth consecutive time officials have opted to keep rates unchanged. The rest of the committee’s post-meeting statement was identical to the one released after the June meeting. Officials reaffirmed their commitment to "achieving price stability". However, the dissenting votes indicate that for Fed Chair Walsh, who took office just in May, holding rates steady will face greater challenges if inflation concerns intensify. Trump has repeatedly called for interest rate cuts, including as recently as Monday. Walsh, nominated as Fed Chair by Trump earlier this year, has stated he will ensure policy decisions are free from political influence. (Jinshi)

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