Fed Keeps Rates Unchanged Despite Trump’s Pressure

On July 30, 2025, Fed issued the FOMC Statement. The central bank decided to maintain the target range for the federal funds rate at 4.25% – 4.50%, in line with analyst estimates.

Fed noted that recent indicators suggested that growth of economic activity moderated in the first half of the year, while uncertainty about the economic outlook remained elevated.

Fed will continue to reduce holdings of Treasury securities, agency debt and agency mortgage-backed securities.

There were no surprises in Fed decision. The central bank is not ready to change the rate until it sees the impact of tariffs.

U.S. Dollar Index settled near the 99.40 level after the release of FOMC Statement. Traders decided to take some profits off the table after the recent rally.

Gold traded near the $3300 level as traders reacted to Fed decision. Stronger dollar served as a significant bearish catalyst for gold markets in recent trading sessions.

SP500 remained stuck below the 6400 level as traders focused on Fed decision. Jerome Powell’s press conference starts soon, and traders should be prepared for volatility. Powell’s comments may have a bigger impact on market dynamics compared to FOMC Statement as Fed Chair may send signals about Fed’s future policy.

For a look at all of today’s economic events, check out our economic calendar.