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The Federal Reserve announced Wednesday that it would not cut its benchmark interest rates, despite pressure from the Trump administration.&nbsp;

The decision to keep rates between 4.15 percent and 4.25 percent met with two unusual dissenting votes from the 12-person board of governors, including one from Christopher Wallen, who has been discussed as a successor to Fed Chair Jerome Powell at the end of the his term next year.

Powell has cited ongoing concerns about inflation and particularly the effect of the Trump administration’s tariff policy on prices. The White House has stated its preference for a quarter-point rate cut to maintain economic growth.

Fed Chair Jerome Powell announced that the central bank would not cut interest rates, despite pressure from the White House.{ai:summary}<p>The Federal Reserve decided to maintain its benchmark interest rates between 4.15% and 4.25%, despite pressure for a cut from the Trump administration. This decision included two dissenting votes from the board, highlighting internal divisions.</p><p>Fed Chair Jerome Powell pointed to inflation concerns and the impact of tariffs on prices as reasons for the decision, while the White House advocates for a quarter-point reduction to support economic growth. #economy</p>

Fed Holds Rates Steady, With Two Board Members Dissenting

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