WASHINGTON (AURN News) — The Federal Reserve decided to hold interest rates steady at their current levels.
The Fed reiterated that it remains committed to bringing inflation down to 2% while keeping as many people employed as possible during the process.
“We at the Fed will continue to do our jobs with objectivity, integrity and a deep commitment to serve the American people,” Federal Reserve Chairman Jerome Powell said Wednesday in his opening remarks.
The Federal Open Market Committee said it will continue to analyze the labor market, inflation and international developments.
On Thursday, President Donald Trump sharply criticized the decision.
“Jerome ‘Too Late’ Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high,” Trump wrote in a lengthy Truth Social post.
“He is hurting our Country, and its National Security. We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat. He is costing America Hundreds of Billions of Dollar a year in totally unnecessary and uncalled for INTEREST EXPENSE. Because of the vast amounts of money flowing into our Country because of Tariffs, we should be paying the LOWEST INTEREST RATE OF ANY COUNTRY IN THE WORLD,” he added.
The decision comes as Trump continues to ramp up pressure in the Middle East, with possible military action against Iran. Oil prices have begun to rise, with the USS Abraham Lincoln carrier strike group already in position.
Click play to listen to the AURN News report from Jamie Jackson:
The post Trump Criticizes Fed After Interest Rates Remain Unchanged appeared first on American Urban Radio Networks.
