Trump: Fed's Decision to Hold Interest Rates Last Week Was "Right for the Current Situation"

Despite facing political pressure from the White House to cut interest rates, the Federal Reserve did not show any intention of cutting rates in its policy statement. At the same time, two officials unusually dissented from the decision to keep rates unchanged, calling for an immediate 25 basis point cut.

The Federal Reserve believes that the current economy has not fallen into a recession and does not need to stimulate demand through interest rate cuts.