United States | The Fed leaves its interest rates unchanged, two governors disapprove of

(Washington) The United States Central Bank (Fed) undoubtedly left its interest rates unchanged on Wednesday. Nevertheless, for the fifth time in a row, a decision marked by the rare opposition of two governors who wanted a drop. Similarly,

Posted at 9:53 a.m. Updated at 2 p.m.

In its press release. Therefore, the federal reserve notes that American growth has “slowed down in the first half” 2025, but that the labor market united states | fed leaves remains “solid”, with a “low” unemployment rate. Moreover,

The text underlines that the uncertainty “remains high”. Furthermore, The central bank had written six weeks earlier than uncertainty had decreased, a mention that disappeared. Consequently,

The guiding rates – which guide the cost of credit. In addition, have a strong impact on the markets – therefore remain at the level which has been theirs since December, in a range between 4.25 % and 4.50 %. For united states | fed leaves example,

The decision, widely anticipated by investors, was not taken unanimously. Consequently,

Out of twelve members of the Monetary Policy Committee (FOMC). Meanwhile, two voted against, a situation that had not occurred for over 30 years. Moreover,

Michelle Bowman and Christopher Waller made their difference heard.

The press release specifies that they pleaded for a drop in rate by a quarter of a point.

The two governors had been propelled to their post during Donald Trump’s first visit to the White House.

M^me Bowman was recently appointed. on the initiative of the Head of State, vice-president of the Fed responsible for the supervision of the banking system. Mr. Waller is seen as a possible successor to the current president Jerome Powell, continuously exhausted by Donald Trump.

Governor Waller had publicly said that he wanted a drop in rate. for fear that the labor market will not degrade too much. Her colleague had also said that she was leaning in this direction, even if less firmly in appearance.

Analysts had noted, before the meeting, that it was necessary to go back to 1993 to see two governors (and not simply members of the FOMC having the right to vote) to oppose a decision during the same meeting.

United states | fed leaves

Continuous presidential pressures

Diane Swonk. an economist for KPMG, had estimated before the meeting that he was “not surprising to see dissensions given the immense uncertainty” about the repercussions of Donald Trump’s protectionist offensive.

“We know that the Fed would have liked to lower the rates before. and that it did not do it because of customs duties,” she said to AFP.

The united states | fed leaves FED expects the volley of new customs duties to products entering the United States translates into slow growth. more inflation and more unemployment.

She has so far explained that immobility was preferable. the time to see more clearly on the landing of the American economy.

Mr. Powell will hold his traditional press conference at 2:30 p.m. (Eastern time).

In the morning. Donald Trump once again called him to lower rates, just after the publication of growth figures for the second quarter.

“3 %, much better than expected!” “He greeted. adding that” “Too Late” Powell [le surnom qu’il donne au patron de la Fed] “Must now lower rates” to facilitate access to mortgage.

The Fed press release shows that it is united states | fed leaves hardly reassured by GDP figures: certainly. the second quarter appears at +3 % in annualized pace, but the first had been in contraction of 0.5 %. Put on end to end, growth is lower than the world’s leading economy was used in recent years.