Fed's Powell has stark message on September decision despite Trump's warning

Fed's Powell has stark message on September decision despite Trump's warning originally appeared on TheStreet.

Federal Reserve Chair Jerome Powell said on July 30 the central bank has made no decision about the interest rates in September, as it doesn't do it in advance. The Fed will take all the information into consideration as it will make the decision at the September FOMC meeting.

However, President Donald Trump told reporters, "I hear they're going to do it in September, not today." The Fed indeed kept interest rates unchanged at 4.25%-4.50% and dropped no indication of lowering rates in September either.

The crypto market reacted in a shockingly drastic manner of the latest development as most leading cryptocurrencies 1%-4% within an hour of the Fed decision.

Bitcoin fell 1.66% to $115,900.36, Ethereum fell 3.27% to $3,688, and XRP dipped 3.40% to $3.02.

BNB also fell 2.31% to $773.54, SOL fell 3.36% to $173.39, and Dogecoin fell 4.17% to $0.2127.

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Powell said the inflation is a bit above target and maximum employment is at target, which called for a "modestly restrictive" policy stance for now.

While Trump has repeatedly criticized Powell for not slashing interest rates, Powell hasn't backed down in his criticism of Trump's tariff policy for potentially leading to price hikes.

The crypto market also didn't escape the shockwaves caused by the tariff escalations. However, it has grown comparatively resilient to macroeconomic pressures.

Fed's Powell has stark message on September decision despite Trump's warning first appeared on TheStreet on Jul 30, 2025

This story was originally reported by TheStreet on Jul 30, 2025, where it first appeared.

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