The Latest Breaking News from US Federal Reserve

The FTSE 100 index closed up just 0.62 of a point at 9,136.94.

After a quarter of contraction and political pressure mounting, the U.S. economy's surprise second-quarter growth and a sharp rebound in private jobs in July have weakened the case for a September rate cut, leaving Fed Chair Jerome Powell in the hot seat ahead of Wednesday’s pivotal policy decision.

After the sharpest quarterly contraction in three years, the U.S. economy roared back robustly in the second quarter, with gross domestic product rebounding well above expectations—offering President Donald Trump a timely economic victory to celebrate.

Two Federal Reserve governors vote against decision as US GDP grows at an annual rate of 3% in second quarter

Cryptocurrency markets are trading flat as retail traders increase short positions ahead of FOMC meeting and final tariff deadline of Aug. 1.

Investors are positioning themselves for some excitement today. They are likely to get it—as we get new numbers on U.S. GDP, a new rate decision from the Fed, and ADP reports on private payrolls.

September S&P 500 E-Mini futures (ESU25) are up +0.12%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.21% this morning, pointing to a slightly higher open on Wall Street, while investors await the Federal Reserve’s policy decision, a fresh batch of U.S. economic data, including the ADP employment report…

U.S. stock futures rose on Wednesday after ending lower on Tuesday. Futures of major benchmark indices were slightly higher.

The US Federal Open Market Committee will cut rates again. Someday. Just not today.