Dow Jones Inches Up as Fed Holds Rates in Split Decision; Trump Ramps Up Trade Threats

Key Points

1. The Federal Open Market Committee (FOMC) voted to maintain interest rates between 4.25% and 4.50%, with dissent from Trump-appointed governors Michelle W. Bowman and Christopher J. Waller.

2. Market reactions were subdued: the Dow Jones rose 0.03%, the S&P 500 gained 0.22%, and the Nasdaq Composite also saw minor gains.

3. President Trump criticized the Fed's inaction on social media, urging lower rates to stimulate home buying and refinancing.

4. Trade tensions escalated as the U.S. announced a 25% tariff on Indian goods effective August 1.

5. Crypto-related developments included Binance launching a tokenized U.S. Treasuries product and institutional Bitcoin buys being seen as a potential catalyst for the next bull market.