July Fed Meeting 2025: Live Updates, Powell’s Speech, and Interest Rate Outlook

By Zamal Uddin

The July Federal Reserve (Fed) meeting concludes today, July 30, 2025, with global markets and Wall Street closely watching Fed Chair Jerome Powell’s policy announcement. Investors are particularly tuned in for signals on potential interest rate cuts later this year as political pressure from President Donald Trump on Powell intensifies.

Fed Expected to Hold Rates Steady

The Federal Open Market Committee (FOMC) is widely expected to keep the federal funds rate unchanged at its current range of 4.25% to 4.50%. This decision comes despite Trump’s public calls for a rate cut and criticism over the ongoing $2.5 billion renovation of the Federal Reserve’s headquarters, which has sparked political tensions.

Economists believe the current interest rate remains appropriate for balancing inflation control and economic growth. UBS Global Research economist Abigail Watt notes that today’s decision and Powell’s remarks will be crucial in signaling whether a September rate cut is likely.

Powell’s Press Conference – How to Watch

Fed Chair Jerome Powell’s post-meeting press conference will begin at 2:30 PM EST, streamed live on:

The Federal Reserve’s official website
The Federal Reserve YouTube channel
Major financial news outlets including Kiplinger and CNBC

Market analysts expect Powell to face tough questions on interest rates, inflation, and Trump’s recent comments suggesting he should resign.

Private Payrolls Beat Expectations

Ahead of the July jobs report, ADP’s private payroll data showed the U.S. added 104,000 new jobs in July, a sharp rebound from June’s decline.

Leisure and Hospitality: +46,000 jobs
Construction: +15,000 jobs
Education and Health Services: -38,000 jobs

ADP Chief Economist Dr. Nela Richardson stated:

“Hiring and pay trends indicate a healthy economy with strong consumer resilience.”

Possible Policy Dissent Within the Fed

Unlike June’s unanimous decision, today’s meeting could see dissenting votes from Fed Governors Michelle Bowman and Christopher Waller, both appointed by Trump. They have expressed support for a 25 basis point rate cut, arguing that inflation pressures are easing and the current policy rate is above neutral.

If both dissent, it would mark the first dual disagreement within the FOMC since 1993, signaling a shift in internal Fed dynamics.

Stock Market Reaction

U.S. stocks opened cautiously higher ahead of Powell’s announcement:

Dow Jones: +0.03%
S&P 500: +0.07%
Nasdaq Composite: +0.20%

Big market movers include:

Palo Alto Networks (PANW): -8% after announcing a $25 billion acquisition of CyberArk Software (CYBR, -2%)
Marvell Technology (MRVL): +9% following an upgraded price target from Morgan Stanley

Interest Rate Outlook – What’s Next?

While a July rate cut is unlikely, investors will analyze Powell’s language for hints of a potential September reduction, especially if inflation continues to cool and the labor market remains stable.

Economist William L. Silber suggests that the current rate may already be restrictive enough, but higher rates could still be needed to ensure inflation remains under control.