无视特朗普压力，美联储连续第五次维持利率不变

Group 1 - The Federal Reserve decided to maintain the federal funds rate target range at 4.25% to 4.50%, marking the fifth consecutive meeting without a rate change [1] - Economic indicators show a slowdown in economic activity in the first half of the year, while the unemployment rate remains low and inflation is still high [1] - Fed Chairman Jerome Powell stated that a moderately restrictive monetary policy seems appropriate, and decisions regarding September's policy will depend on upcoming employment and inflation data [1] Group 2 - The decision to keep rates unchanged aligns with market expectations, as inflation remains slightly above target and GDP growth in Q2 exceeded expectations [4] - There are uncertainties regarding tariffs that will take effect in August, providing a window for the Fed to assess their impact on prices [4] - Two Fed governors voted against the decision, calling for an immediate 25 basis point cut, marking the first dissent in over 30 years [7] Group 3 - There is significant internal disagreement within the Fed regarding the timing of potential rate cuts, influenced by geopolitical changes and tariff issues [7] - Powell declined to comment on his future beyond his term ending in May 2026, amidst political pressure from the Trump administration [7] - The Trump administration's pressure on the Fed for rate cuts is seen as a conflict with the Fed's mandate to maintain employment and price stability [10]