00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Trump expressed disbelief at new Federal Reserve Chairman Kevin Walsh's decision to hold
00:07interest rates steady following his first policy meeting as Fed Chair, according to Benzinga.
00:12Trump had previously pressured Powell to cut rates, but held back criticism of Walsh
00:17after the new Fed Chair's first meeting ended with rates unchanged.
00:21Trump expressed confidence in Walsh and left open the possibility of a future rate increase.
00:25The Fed unanimously held the federal funds rate at 3.50% to 3.75%, describing inflation
00:33as elevated relative to its 2% target, partly due to rising global energy prices.
00:38The decision triggered a broad market sell-off, with the S&P 500 falling 1.2% and the NASDAQ
00:45100 dropping 1.2%.
00:47Economists offered mixed reviews of Walsh's performance.
00:50For all things money, visit Benzinga.com.
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