Fed Holds Rates Steady as Trump Pressures Powell Over DOJ Investigation

The Federal Reserve kept interest rates between 3.5% and 3.75% after a 10-2 vote despite escalating public pressure and criticism from Donald Trump.Jerome Powell defended the decision citing solid economic growth while facing a DOJ investigation into $2.5 billion in renovation costs that he characterized as political retaliation.Markets remained largely unchanged as investors awaited earnings reports from Microsoft, Meta, and Tesla following a day that saw Starbucks shares surge and Amazon announce 16,000 job cuts.