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Federal Reserve keeps interest rates unchanged even as Trump continues to insist they be lowered
['Associated Press']
41NBC News | WMGT-DT41NBC News | WMGT-DT
WASHINGTON (AP) — The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6% after lowering it three times last year.
With the economy growing at a healthy pace and the unemployment rate appearing to level off, Fed officials likely see little reason to rush any further rate cuts.
The Fed’s decision to stand pat will likely fuel further criticism from Trump, who has relentlessly assailed Powell for not sharply cutting short-term rates.
Powell suggested that there may not be that many more rate cuts needed.
“Don’t do it.”As for interest rates, Wall Street expected the Fed to hold steady at least until June.