Fed Chair Jerome Powell is set to speak with reporters after the Federal Reserve’s decision to hold rates steady despite consistent pressure from President Trump and dissents from within the Fed. Central bank policymakers voted to maintain the Fed’s benchmark interest rate in the range of 4.25%-4.5%.
The decision was in line with expectations despite new data showing that US gross domestic product grew at an annualized pace of 3% in the second quarter.
Investors have kept a close eye on growing dissension that’s been building, as a number of Fed governors have echoed Trump’s sentiments for rate cuts in recent weeks. Of the 61 meetings Powell has chaired, there have been 18 dissents. Of the dissents, 14 were from regional bank presidents, and four were from Fed governors.
Watch the press conference live above.
Read our full coverage of the decision here
