Fed interest-rate decision rocks Wall Street’s inflation fears

The Federal Reserve’s policymaking committee voted 9-3 on July 29 to maintain benchmark short-term interest rates in a range of 3.5% to 3.75%, without raising rates or providing forward guidance. The decision sparked significant market reaction, with the 30-year Treasury yield reaching 5.2% and the Dow Jones Industrial Average closing down 1,153.18 points, or -2.19%. Wall Street interpreted the outcome as signaling concerns that the Fed’s current approach may be insufficient to comb