Two Officials Dissent as Fed Leaves Rates Unchanged

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• 00:03

  Two Fed officials disagree with the decision to leave interest rates unchanged.

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  Should Jerome Powell be worried?

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  I don't think that he's under any pressure at all.

• 00:13

  There was really more drama last week when President Trump toured the Fed building,

• 00:18

  which was undergoing a renovation project, than today.

• 00:22

  Plus, how Trump's tax mega law has reshuffled the incentives for donating to charity.

• 00:27

  And what Amazon's deal with the New York Times may mean for AI licensing.

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  It's Wednesday, July 30th.

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  I'm Alex Osila for The Wall Street Journal.

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  This is the PM edition of What's News,

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  the top headlines and business stories that move the world today.

• 00:48

  As was largely expected,

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  the Federal Reserve left interest rates unchanged for its fifth straight meeting.

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  The decision came following news this morning from the Commerce Department that the US economy grew by 3% in the second quarter.

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  In a rare move, two of the 12 Fed officials in the rate-setting committee dissented,

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  seeking an immediate rate cut.

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  It was the first meeting

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  since 2020 in which more than one official voted against Chair Jerome Powell and the first

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  since 1993 in which more than one board governor dissented.

• 01:17

  Asked about this at the press conference that followed the rate announcement,

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