{"id":4117,"date":"2026-07-29T22:09:27","date_gmt":"2026-07-29T22:09:27","guid":{"rendered":"https:\/\/nextaddressamerica.com\/?p=4117"},"modified":"2026-07-29T22:09:27","modified_gmt":"2026-07-29T22:09:27","slug":"rebellion-against-oblivious-trump-tanks-dow-in-worst-day-of-the-year","status":"publish","type":"post","link":"https:\/\/nextaddressamerica.com\/?p=4117","title":{"rendered":"Rebellion against ‘oblivious’ Trump tanks Dow in worst day of the year"},"content":{"rendered":"
\n

Many critics anticipated that when President Donald Trump appointed Kevin Warsh as chairman of the Federal Reserve, he was getting a hack who would follow Trump\u2019s order to cut rates regardless of the explosive consequences.<\/p>\n

Read more Trump walked straight into a fatal legal trap that exposes his whole empire<\/a><\/p>\n

On Wednesday, that\u2019s not what happened \u2014 and Trump is likely stewing.<\/p>\n

\u201c[Warsh\u2019s] hard line on inflation must have \u2026 surprised Warsh\u2019s patron, President Trump,\u201d argued American Prospect co-founder Robert Kuttner.<\/p>\n

The Federal Reserve refused to lower interest rates from its current target range of 3.5 to 3.75 percent for short-term rates. Worse for Trump, the vote of the whole fed was 9-to-3, with three regional bank presidents voting to raise<\/em> the target range for the federal funds rate by a quarter percentage point. Kuttner said this was the first time since 2016 that three officials dissented in the same direction.<\/p>\n

\u201cThe split vote signals that the Fed, despite President Trump\u2019s wishes for a rate cut, is likely to vote for a rate hike between now and the November midterms. That\u2019s because several factors, some of them of Trump\u2019s own making, are increasing inflation, including the Iran war and retail price increases resulting from Trump\u2019s tariffs,\u201d said Kuttner.<\/p>\n

The decision to keep rates steady \u201ctanked the Dow,\u201d according to CNN anchor Kasie Hunt, delivering \u201cthe worst trading day for more than year.\u201d<\/p>\n

But if Trump is stomping around the White House right now he only has himself to blame, said Kuttner.<\/p>\n

\u201cOur impulsive and oblivious president is not good at connecting dots. One set of Trump policies raises inflation, while Trump pressures the Fed to ignore the problem and cut interest rates,\u201d said Kuttner. \u201cIn his report to Congress on July 15, Kevin Warsh \u2026 surprised many observers by ignoring the Fed\u2019s \u2018dual mandate\u2019 to pursue both price stability and high employment. <\/p>\n

Read more Trump chasing \u2018sugar high\u2019 as DOJ cases \u2018crash and burn\u2019: ex-federal prosecutor<\/a><\/p>\n

In fact, Warsh had said, \u201cThe members of our [Federal Open Market] Committee have no tolerance for persistently elevated inflation. And we share a resolute commitment to restoring price stability.\u201d<\/p>\n

Plus, Kuttner said Warsh made no mention at all of employment, implying Trump should have seen this coming.<\/p>\n

\u201cBonds are under pressure because of the massive increases in the federal debt under Trump, compounded by a lot of borrowing for the AI bubble and data center build-out. In many respects, these signals are a more important factor in Fed thinking than the month-to-month inflation rate,\u201d Kuttner said. <\/p>\n

Worse for Trump, there are two more meetings of the policy-setting Federal Open Market Committee between now and November, when Trump\u2019s voters are likely to show Trump how unhappy they are with his economy. And the challenge facing the Fed is that the widely expected rate hike won\u2019t even be able to act fast enough to fix what\u2019s broken about Trump\u2019s economy.<\/p>\n

\u201cAnd since the inflation is not the result of overheated demand but of the impact of the Iran war and Trump\u2019s tariffs, higher rates will not moderate these prices,\u201d said Kuttner. \u201cBut leaving rates alone would signal an indulgence of inflation that Warsh and his colleagues want to avoid.\u201d<\/p>\n

Read more Trump driving higher income Americans to max out credit cards \u2014 for food<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Many critics anticipated that when President Donald Trump appointed Kevin Warsh as chairman of the Federal Reserve, he was getting a hack who would follow Trump\u2019s order to cut rates regardless of the explosive consequences.On Wednesday, that\u2019s not what happened \u2014 and Trump is likely stewing.\u201c[Warsh\u2019…<\/p>\n","protected":false},"author":1,"featured_media":3452,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nRebellion against 'oblivious' Trump tanks Dow in worst day of the year - Next Address America<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nextaddressamerica.com\/?p=4117\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rebellion against 'oblivious' Trump tanks Dow in worst day of the year - Next Address America\" \/>\n<meta property=\"og:description\" content=\"Many critics anticipated that when President Donald Trump appointed Kevin Warsh as chairman of the Federal Reserve, he was getting a hack who would follow Trump\u2019s order to cut rates regardless of the explosive consequences.On Wednesday, that\u2019s not what happened \u2014 and Trump is likely stewing.\u201c[Warsh\u2019...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nextaddressamerica.com\/?p=4117\" \/>\n<meta property=\"og:site_name\" content=\"Next Address America\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-29T22:09:27+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/#\\\/schema\\\/person\\\/a4840e0eb2094ec31aed2107d53108b3\"},\"headline\":\"Rebellion against ‘oblivious’ Trump tanks Dow in worst day of the year\",\"datePublished\":\"2026-07-29T22:09:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117\"},\"wordCount\":567,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/nextaddressamerica.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/9ade4c6527b348509f89a275f971f556.webp\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117\",\"url\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117\",\"name\":\"Rebellion against 'oblivious' Trump tanks Dow in worst day of the year - Next Address America\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/nextaddressamerica.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/9ade4c6527b348509f89a275f971f556.webp\",\"datePublished\":\"2026-07-29T22:09:27+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/#\\\/schema\\\/person\\\/a4840e0eb2094ec31aed2107d53108b3\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117#primaryimage\",\"url\":\"https:\\\/\\\/nextaddressamerica.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/9ade4c6527b348509f89a275f971f556.webp\",\"contentUrl\":\"https:\\\/\\\/nextaddressamerica.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/9ade4c6527b348509f89a275f971f556.webp\",\"width\":1200,\"height\":600},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/?p=4117#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/nextaddressamerica.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rebellion against ‘oblivious’ Trump tanks Dow in worst day of the year\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/#website\",\"url\":\"https:\\\/\\\/nextaddressamerica.com\\\/\",\"name\":\"Next Address America\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/nextaddressamerica.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/nextaddressamerica.com\\\/#\\\/schema\\\/person\\\/a4840e0eb2094ec31aed2107d53108b3\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/nextaddressamerica.com\"],\"url\":\"https:\\\/\\\/nextaddressamerica.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Rebellion against 'oblivious' Trump tanks Dow in worst day of the year - Next Address America","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nextaddressamerica.com\/?p=4117","og_locale":"en_US","og_type":"article","og_title":"Rebellion against 'oblivious' Trump tanks Dow in worst day of the year - Next Address America","og_description":"Many critics anticipated that when President Donald Trump appointed Kevin Warsh as chairman of the Federal Reserve, he was getting a hack who would follow Trump\u2019s order to cut rates regardless of the explosive consequences.On Wednesday, that\u2019s not what happened \u2014 and Trump is likely stewing.\u201c[Warsh\u2019...","og_url":"https:\/\/nextaddressamerica.com\/?p=4117","og_site_name":"Next Address America","article_published_time":"2026-07-29T22:09:27+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/nextaddressamerica.com\/?p=4117#article","isPartOf":{"@id":"https:\/\/nextaddressamerica.com\/?p=4117"},"author":{"name":"admin","@id":"https:\/\/nextaddressamerica.com\/#\/schema\/person\/a4840e0eb2094ec31aed2107d53108b3"},"headline":"Rebellion against ‘oblivious’ Trump tanks Dow in worst day of the year","datePublished":"2026-07-29T22:09:27+00:00","mainEntityOfPage":{"@id":"https:\/\/nextaddressamerica.com\/?p=4117"},"wordCount":567,"commentCount":0,"image":{"@id":"https:\/\/nextaddressamerica.com\/?p=4117#primaryimage"},"thumbnailUrl":"https:\/\/nextaddressamerica.com\/wp-content\/uploads\/2026\/07\/9ade4c6527b348509f89a275f971f556.webp","articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/nextaddressamerica.com\/?p=4117#respond"]}]},{"@type":"WebPage","@id":"https:\/\/nextaddressamerica.com\/?p=4117","url":"https:\/\/nextaddressamerica.com\/?p=4117","name":"Rebellion against 'oblivious' Trump tanks Dow in worst day of the year - Next Address America","isPartOf":{"@id":"https:\/\/nextaddressamerica.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nextaddressamerica.com\/?p=4117#primaryimage"},"image":{"@id":"https:\/\/nextaddressamerica.com\/?p=4117#primaryimage"},"thumbnailUrl":"https:\/\/nextaddressamerica.com\/wp-content\/uploads\/2026\/07\/9ade4c6527b348509f89a275f971f556.webp","datePublished":"2026-07-29T22:09:27+00:00","author":{"@id":"https:\/\/nextaddressamerica.com\/#\/schema\/person\/a4840e0eb2094ec31aed2107d53108b3"},"breadcrumb":{"@id":"https:\/\/nextaddressamerica.com\/?p=4117#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nextaddressamerica.com\/?p=4117"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nextaddressamerica.com\/?p=4117#primaryimage","url":"https:\/\/nextaddressamerica.com\/wp-content\/uploads\/2026\/07\/9ade4c6527b348509f89a275f971f556.webp","contentUrl":"https:\/\/nextaddressamerica.com\/wp-content\/uploads\/2026\/07\/9ade4c6527b348509f89a275f971f556.webp","width":1200,"height":600},{"@type":"BreadcrumbList","@id":"https:\/\/nextaddressamerica.com\/?p=4117#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nextaddressamerica.com\/"},{"@type":"ListItem","position":2,"name":"Rebellion against ‘oblivious’ Trump tanks Dow in worst day of the year"}]},{"@type":"WebSite","@id":"https:\/\/nextaddressamerica.com\/#website","url":"https:\/\/nextaddressamerica.com\/","name":"Next Address America","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nextaddressamerica.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/nextaddressamerica.com\/#\/schema\/person\/a4840e0eb2094ec31aed2107d53108b3","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/nextaddressamerica.com"],"url":"https:\/\/nextaddressamerica.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=\/wp\/v2\/posts\/4117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4117"}],"version-history":[{"count":0,"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=\/wp\/v2\/posts\/4117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=\/wp\/v2\/media\/3452"}],"wp:attachment":[{"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nextaddressamerica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}