Days after a very tense and awkward on-air showdown with US President Donald Trump, Fed Chair Jerome Powell is set to announce his decision of the key interest rates tonight. While market watchers believe that there won’t be any rate cut this time with FOMC going steady, focus will yet again remain on Powell’s commentary and of course, colour of his tie.
FOMC July Meeting: What’s happening right now?
The Federal Open Market Committee (FOMC) of the US Federal Reserve is holding its two-day policy meeting that began on July 29 and will conclude tonight (IST). While markets broadly anticipate that the Fed will leave interest rates unchanged, all eyes are on Chair Jerome Powell’s press conference for cues on future policy direction.
The outcome of the July FOMC meeting, including Powell’s remarks, will be closely followed by global markets.
FOMC July Meeting: Where to watch Powell’s address?
Viewers can watch the proceedings live on the official YouTube channel of the Federal Reserve Board of Governors on July 30 at 2 p.m. ET (Wednesday, 11:30 pm IST), with the press briefing to follow.
FOMC July Meeting: What to expect?
Much of the attention will be on whether Powell maintains a hawkish stance or signals a dovish pivot, especially in light of the latest US inflation data — including CPI and PCE figures for June.
Although inflation appeared to be easing through May, coinciding with the full implementation of a 10% tariff, the Fed has opted to wait before adjusting its policy, citing the need to evaluate the broader economic impact of recent tariff measures introduced under the Trump administration.
June’s CPI data surprised analysts. The all-items index rose 2.7% year-on-year, compared to 2.4% in May. Core inflation, excluding food and energy, was up 2.9% over the past year and increased 0.2% month-on-month in June, following a 0.1% rise in May.
At the same time, pressure is building on Powell. The White House — including senior officials and President Trump — is pushing for aggressive rate cuts, reportedly as steep as 300 basis points. The benchmark interest rate has remained steady in the 4.25%–4.5% range since December.
FOMC July meeting: What are the official channels?
https://www.youtube.com/federalreserve
X (erstwhile Twitter) handle https://x.com/federalreserve.
The US Fed will also telecast the post-meeting presser on its site as well - https://www.federalreserve.gov/live-broadcast.htm.
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