Fed holds rates steady

Concerned about tariff-related price increases, the Federal Reserve held interest rates steady and hinted there may to up to two rate cuts before the end of the year. There is also concern that the “Big, Beautiful Bill” currently under discussion in Congress could add up to $3.4 trillion to the national debt.

Reactions were as expected. The President called Federal Reserve Chair Jerome Powell “stupid” for not lowering rates and the markets wobbled a bit.