KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
US President Donald Trump hinted on Friday that the Federal Reserve could be preparing to lower interest rates after what he described as a “very good meeting” with Fed Chair Jerome Powell.
The comments followed Trump’s rare visit to the Fed’s headquarters on Thursday to tour its ongoing building renovations, which the White House has criticized for being too costly. During the visit, Trump again pressed Powell to slash rates immediately, sparking renewed debate about political pressure on the central bank.
Key Points:
Trump on the meeting: “I think we had a very good meeting on interest rates.”
Current Fed rate range: 4.25%–4.50%
Policy outlook: The Fed is expected to keep rates unchanged at next week’s meeting, with Powell emphasizing the need to wait for more economic data.
Context:
This was one of the few times a sitting president has visited the Fed, underscoring the significance of the encounter.
Trump and Powell also sparred over the cost of the Fed’s renovation project, which Trump has repeatedly criticized.
What’s Next:
Markets are now focused on the Fed’s policy meeting next week, with traders watching for any shift in tone. While Powell has signaled caution, Trump’s comments are fueling speculation that a rate cut could come sooner than expectedif economic conditions soften further.
Bottom line: Trump’s remarks add pressure on the Fed at a sensitive moment, raising questions about whether policy decisions will be driven more by data—or politics.
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