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Federal Reserve keeps interest rates unchanged even as Trump continues to insist they be lowered
['Associated Press', 'Christopher Rugaber', 'Matthew Lee', 'Stephen Groves', 'Joshua Goodman', 'Kaitlyn Huamani', 'Ap Technology Writer', 'Kaanita Iyer', 'Advanced Window Products', 'Lighting Design']
KSLTV.com
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.
President Donald Trump appointed Miran in September, and he had dissented at the three previous meetings in favor of a half-point cut.
The Fed’s decision to stand pat will likely fuel further criticism from Trump, who has assailed Powell for months for not sharply cutting short-term rates.
Fed officials meet this week in the shadow of unprecedented pressure from the Trump White House.
Powell in an unusually blunt video statement said the subpoenas were a pretext to punish the Fed for not cutting rates more quickly.