BREAKING: Democrat Abdul El-Sayed wins US Senate election in Michigan, defeating Trump-backed Mike Rogers.
He will be the first Muslim Senator in US history.
The Fed made a very clear statement today.
Not only did they hike interest rates, but it was a 12-0 unanimous decision.
This marks the first unanimous Fed decision since May 2025, amid calls from President Trump to cut rates.
And, the Fed concluded their policy statement by saying, "The Committee will deliver price stability," making it clear that inflation is their top priority.
The question now becomes: How does President Trump respond?
12 days ago, President Trump said he would "stop trading" with 50+ US trade partners if the Fed does not cut rates.
Today, the Fed not only avoided cutting rates, they hiked them.
Clearly, the divide between the White House and the Fed is widening, even with Jerome Powell out.
More to come.
SUMMARY OF FED DECISION (7/29/2026):
1. Fed leaves rates unchanged for the 5th straight meeting
2. Fed votes 9-3 to hold benchmark rate in 3.50%-3.75% zone
3. Hammack, Kashkari, and Logan dissent in favor of rate hike
4. Fed says economic activity is expanding at a "solid pace" despite uncertainty
5. Fed says job gains have "kept pace with the workforce"
6. Fed says it remains committed to its 2% inflation goal
The longest Fed pause since the 2008 cycle continues.
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