Fed Raises Interest Rates Amid Trump's Rate Cut Calls

The Federal Reserve raised interest rates by a quarter point on July 29, despite calls from President Trump for rate cuts. The decision was made during the Federal Open Market Committee meetings, which kept the interest rate unchanged.

According to the source, this move is part of the Fed's efforts to control inflation and maintain economic stability. The exact words of Federal Reserve Chair Kevin Warsh are not available in the source, but his action speaks for itself.