Why fed Is Trending Today?

Kansas City Fed President Esther George, also known as Schmid, has expressed caution about a potential interest rate cut in September, citing significant data releases in the coming weeks. Schmid, who is not in favor of rushing a rate cut, believes that the current monetary policy is "moderately restrictive" and appropriate. She has also discussed the topic of inflation fears and the independence of the Federal Reserve in various interviews and podcasts, including Bloomberg Talks and Odd Lots. Meanwhile, in sports news, Australia's rugby coach Michael Cheika, often referred to as Schmidt, is hoping for a stronger start against a motivated South African team in their upcoming match.

Swiss National Bank posts significant loss due to dollar weakness; Bank of Japan maintains interest rate, raises inflation forecast.

Despite pressure from President Trump, the US Federal Reserve maintained its high interest rate policy at the latest meeting, with only two members voting for a cut. The decision was seen as a show of independence by Fed Chair Powell.