US Fed Holds Rates Again Amid Trump's Call for Lower Borrowing Costs
The US Federal Reserve left its key interest rate unchanged, extending its pause for a fifth straight meeting, despite President Donald Trump's push for lower borrowing costs.
US Fed Holds Rates Again Amid Trump's Call for Lower Borrowing Costs
The US Federal Reserve left its key interest rate unchanged on Wednesday, extending its pause for a fifth straight meeting. The rate-setting committee voted 9-3 to keep the federal funds rate at around 3.6 per cent. President Donald Trump had expressed his desire for lower borrowing costs, but the Fed's decision was not influenced by his comments. Trump described Federal Reserve chair Kevin Warsh as 'fantastic' and 'a brilliant guy'. The Fed's decision is a significant development in the US economy, and its implications will be closely watched by investors and policymakers.