#FOMCMeeting **#FOMCMeeting Key Takeaways (July 30, 2025):**

1. **Rates Unchanged**: The Fed held the benchmark interest rate at **4.25%-4.50%** for the fifth consecutive meeting, citing "moderated" economic growth and "somewhat elevated" inflation .

2. **Historic Dissent**: Governors **Michelle Bowman and Christopher Waller** voted for a 0.25% rate cut—marking the first dual dissent from the Board since 1993 .

3. **Tariff Impact**: Chair Powell warned that Trump’s tariffs are pushing up goods prices, but the Fed views this as likely a **"one-time shift"** rather than persistent inflation. Vigilance is needed to anchor long-term expectations .

4. **September Uncertainty**: Powell explicitly stated **"no decisions"** on a September cut, emphasizing data dependence. Markets now price a ~46% chance of a September cut, down from 64% pre-meeting .

5. **Political Pressure**: The decision defied public demands from President Trump for aggressive cuts, highlighting Fed independence. Trump had earlier visited Fed HQ, criticizing rates and renovation costs .

**Market Reaction**: Stocks dipped post-announcement (S&P -0.12%), while the dollar held near two-month highs .