Fed: US central bank keeps key interest rate stable despite pressure from President Trump

In June, the inflation rate rose to 2.7 percent. This was the second consecutive increase in inflation. The Fed targets a 2 percent inflation rate over the medium term.

Powell: Tariffs speak against interest rate cuts

Jerome Powell has repeatedly cited tariff policy as a reason against interest rate cuts. The EU and the US recently agreed on a tariff agreement. However, uncertainty remains, as an agreement with China is still pending. Import tariffs drive up prices, which initially argues against interest rate cuts. However, they also weigh on economic growth in the medium term.