Fed Holds Rates Steady as Powell’s Speech Looms; Trump Weighs In on Trade and BRICS

The Federal Reserve maintained interest rates at current levels, aligning with market expectations. Chairman Jerome Powell's upcoming remarks are now the focal point, particularly regarding potential rate cuts in September. Dissent within the Fed emerged, with Board members Waller and Bowman advocating for a quarter-point reduction.

Former President Donald TRUMP criticized the Fed's timing, asserting that even immediate cuts would be "too late." He hinted at September reductions based on undisclosed intelligence and announced aggressive trade measures—a 25% tariff targeting India and Russia—while condemning BRICS nations for challenging dollar dominance.

Cryptocurrency markets remain attuned to these macroeconomic signals. The Fed's statement highlighted stable rates amid slowing growth projections for early 2025, sticky inflation, and a resilient labor market. Such conditions historically fuel volatility in digital asset valuations.