The United States Federal Reserve, the central banking system of the US, is widely expected to keep interest rates unchanged during its latest policy meeting, signaling a pause in its recent cycle of cuts despite public pressure from President Donald Trump. The Federal Open Market Committee (FOMC) convened in Washington, D.C., with economists anticipating a hold on the benchmark lending rate. This caution puts the institution at odds with President Trump, who has repeatedly called for more aggressive rate reductions. Defending Central Bank IndependenceThe political pressure on the Fed has escalated sharply since Trump returned to the White House. President Trump will nominate his successor, who will shape policy in the coming years.