{"id":2201,"date":"2026-06-17T18:38:48","date_gmt":"2026-06-17T18:38:48","guid":{"rendered":"https:\/\/homebuyerrelocation.com\/?p=2201"},"modified":"2026-06-17T18:38:48","modified_gmt":"2026-06-17T18:38:48","slug":"federal-reserve-keeps-rates-steady-despite-trumps-new-chairman","status":"publish","type":"post","link":"https:\/\/homebuyerrelocation.com\/?p=2201","title":{"rendered":"Federal Reserve keeps rates steady, despite Trump\u2019s new chairman"},"content":{"rendered":"
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The Federal Reserve opted to keep interest rates unchanged on Wednesday in its first major decision under President Trump\u2019s hand-picked chairman, Kevin Warsh.<\/p>\n

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The Federal Open Market Committee kept its benchmark rate at 3.5%-3.75%.<\/p>\n

\u201cEconomic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East,\u201d the committee said. \u201cProductivity growth and capital investment are strong. Job gains have kept pace with the workforce, and the unemployment rate has changed little.\u201d<\/p>\n

Mr. Trump appointed Mr. Warsh to replace outgoing Chair Jerome Powell with an eye toward lower rates, but central bankers are confronting stubborn inflation that was exacerbated by the war in Iran.<\/p>\n

\u201cInflation remains elevated relative to the committee\u2019s 2% goal, in part reflecting supply shocks that have driven price increases in certain sectors, including energy,\u201d the Fed\u2019s committee said.<\/p>\n

The Fed has a dual mandate to maintain maximum employment and keep prices stable.<\/p>\n

Earlier this year, it left interest rates unchanged after implementing three small cuts in late 2025 to help a sluggish labor market.<\/p>\n

The president hectored the former chairman, Mr. Powell, to cut rates, saying it would spur economic growth.<\/p>\n

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But central bankers were skittish about potential inflation from Mr. Trump\u2019s tariffs, and then the war in Iran nudged up energy prices and overall inflation.<\/p>\n

Mr. Powell gave way to Mr. Warsh weeks ago, though high prices remain a concern.<\/p>\n

Prices rose 4.2% for the year ending in May as inflation hit a three-year high, the government said in its most recent Consumer Price Index report.<\/p>\n

Mr. Trump negotiated a deal to end the conflict in the Middle East. Still, some of the economic shocks from the war will take time to heal.<\/p>\n

The president gave conflicting signals to the Fed when he swore in Mr. Warsh during a White House ceremony in May.<\/p>\n

\u201cWe want to stop inflation, but we don\u2019t want to stop greatness,\u201d Mr. Trump said, signaling his preference for lower rates.<\/p>\n

However, Mr. Trump told Mr. Warsh to be \u201ctotally independent\u201d in his new role.<\/p>\n

\u201cI want him to be independent and just do a great job,\u201d Mr. Trump said in the East Room. \u201cDon\u2019t look at me, don\u2019t look at anybody. Just do your own thing and do a great job.\u201d<\/p>\n

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<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Federal Reserve opted to keep interest rates unchanged on Wednesday in its first major decision under President Trump’s hand-picked chairman, Kevin Warsh.<\/p>\n","protected":false},"author":1,"featured_media":1622,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nFederal Reserve keeps rates steady, despite Trump\u2019s new chairman - Home Buyer Relocation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/homebuyerrelocation.com\/?p=2201\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Federal Reserve keeps rates steady, despite Trump\u2019s new chairman - 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