President Donald Trump reiterated his call for significantly lower interest rates on July 27, just two days before the Federal Reserve’s policy meeting. The Fed held rates steady on July 29, citing elevated inflation as the primary reason. Chair Kevin Warsh declined for the second time to deliver the rate cuts Trump has been publicly requesting. As of early August, 30-year Treasury yields remain elevated, indicating the market is not pricing in near-term rate cuts. This situation limits potential catalysts for rate-sensitive assets such as real estate and Bitcoin.
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