Overview

• Scott Bessent denies any plan to fire Fed Chair Jerome Powell and says the president might prefer his resignation but will let him serve out his term.
• Federal Reserve is poised to maintain its benchmark rate at 4.25–4.50% at the July 29–30 meeting under a data-driven approach to inflation and trade pressures.
• A Reuters poll finds over 70% of economists alarmed by political interference in the Fed and unanimously forecasting no rate cut in July.
• Fed Funds futures and Goldman Sachs analysis show a 58% probability of a 25 basis-point rate reduction in September as investors monitor tariff-driven price risks.
• Former Fed chairs and economists warn that politicizing monetary policy could erode central bank credibility and raise long-term borrowing costs.