Fed Defies Trump, Raises Interest Rate Amid Economic Uncertainty

The Federal Reserve raised interest rates by a quarter point despite calls from President Trump to cut them.

The decision was made during a meeting of the Federal Open Market Committee on July 29, 2026.

Federal Reserve Chair Kevin Warsh spoke at a news conference after the meeting, but he did not discuss the interest rate increase in detail.

There were no further details provided on the reasoning behind the decision or any potential implications for the economy.