The United States Federal Reserve decided to keep general interest rates unchanged at 4.25% to 4.5% a move that was largely expected by the broader market.

In fact, as CryptoPotato reported yesterday, more than 98% of the volume on Polymarket regarding potential rate cuts was betting on no change. As a reminder, the odds are are considerably higher for the Feds decision during Septembers FOMC meeting when 41% of the traders expect the institution to cut rates by 25 basis points.

The Feds decision comes amid mounting political pressure as President Donald Trump continues with his questionable rhetoric calling Chairman Jerome Powell stupid, earlier today.

The Fed holds rates steady. No surprises from the FOMC.

All eyes now on Powell’s speech in 30 minutes for signs of easing.

Meanwhile, Trump:

“Am I allowed to appoint myself head of the Fed?”

“I’d do a much better job than Powell.” pic.twitter.com/Trn9dQI7TL

So, we have a stupid person. Frankly, you probably wont cut today. [] Europe had 10 cuts and we had none. And I guess hes a political guy, I dont know. Hes a political guy whos not a smart person, but hes costing the country a fortune.

Meanwhile, Bitcoins price has remained largely steady following the decision and currently trades at around $104,200.

Source: TradingView