this post was submitted on 28 Jan 2026
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The US Federal Reserve voted to hold interest rates on Wednesday despite White House pressure to lower borrowing costs.

The Fed said it will keep its key lending rate between 3.5% to 3.75%, stating that economic activity in the US "has been expanding at a solid pace".

There are signs the employment market is stabilising - job creation is sluggish but the unemployment rate has ticked lower. Policymakers are continuing to monitor the effect on the economy of three interest cuts last year.

Trump is soon expected to announce a replacement for Fed chair Jerome Powell, whom the president has frequently criticised for not reducing interest rates quickly enough.

Two Fed officials voted in favour of an interest rate cut - Stephen Miran, who is on leave from his post at the White House where he leads Trump's Council of Economic Advisers, and Christopher Waller, a Trump appointee whose name has been floated as contender to succeed Powell.

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[–] ikidd@lemmy.world 5 points 2 hours ago

He's going to appoint some fucking Fox News financial "expert".

[–] yakko@feddit.uk 15 points 9 hours ago

"2018 Trump appointee" Jerome Powell has had an impressive streak. Most people working under 45 get their lives ruined way faster.

[–] RainbowHedgehog@lemmy.world 10 points 9 hours ago (1 children)

Good. If Trump gets ahold of the Fed then it could cause a worldwide Depression.

[–] sturmblast@lemmy.world 9 points 9 hours ago (1 children)
[–] RainbowHedgehog@lemmy.world 1 points 5 hours ago

According to who?

[–] Lemmyoutofhere@lemmy.ca 18 points 11 hours ago (2 children)

Come on, drop the rate, and collapse the US economy with runaway inflation.

[–] UnderpantsWeevil@lemmy.world 16 points 10 hours ago (1 children)

Dropping the rate a quarter point isn't going to produce run away inflation.

But climate change drying up the Colorado River and decimating the US West's agricultural industry might.

[–] Lemmyoutofhere@lemmy.ca 12 points 10 hours ago (1 children)

Correct, but the orange moron probably wants to drop it to zero.

[–] UnderpantsWeevil@lemmy.world 16 points 10 hours ago

In an interview with The Wall Street Journal in December, Trump said within a year he wants interest rates to be “1% and maybe lower than that.”

So you're not far off.

[–] sturmblast@lemmy.world 6 points 9 hours ago

Fuck you too then

[–] Thedogdrinkscoffee@lemmy.ca 6 points 11 hours ago* (last edited 10 hours ago)

The Fed said it will keep its key lending rate between 3.5% to 3.75%, stating that ~~economic activity~~ INFLATION in the US "has been expanding at a solid pace".

Trump is soon expected to announce a ~~replacement for Fed chair Jerome Powell,~~ lackey whom the president has frequently criticised for not ~~reducing interest rates~~ tanking the US economy and status as defacto global reserve currency quickly enough.

I wonder if ICE is going to pay him a visit?