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Trump Faces Backlash as Fed Holds Rates Steady

7/26/2025

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Summary

Story summary

President Trump visited the Federal Reserve, facing backlash over renovation costs increasing from $1.9 billion to $2.5 billion.
Fed Chair Jerome Powell indicated interest rates will remain unchanged until tariff-related inflation becomes clearer.
New home sales increased by 0.6% in June, but still missed expectations due to high mortgage rates.
The labor market showed stability, with nonfarm payrolls rising by 147,000 in June and unemployment decreasing to 4.1%.

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Story summary

President Trump visited the Federal Reserve, facing backlash over renovation costs increasing from $1.9 billion to $2.5 billion.
Fed Chair Jerome Powell indicated interest rates will remain unchanged until tariff-related inflation becomes clearer.
New home sales increased by 0.6% in June, but still missed expectations due to high mortgage rates.
The labor market showed stability, with nonfarm payrolls rising by 147,000 in June and unemployment decreasing to 4.1%.