Fed expected to hold interest rates steady, defying Trump [View all]
Source: ABC News
The Federal Reserve on Wednesday will issue a new decision on the level of its benchmark interest rate, testing a wait-and-see approach adopted by the central bank in recent months as it observes potential effects of President Donald Trump's tariff policy.
The posture of restraint at the Fed has elicited sharp and repeated criticism from Trump, who instead wants the central bank to cut interest rates in an effort to supercharge the U.S. economy.
The Fed, an independent federal agency, is widely expected to continue its defiance of Trump.
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Fresh inflation data last week showed a slight acceleration of price increases, but inflation remains near its lowest level since 2021. Hiring slowed but remained sturdy in May as the uncertainty surrounding on-again, off-again tariffs appeared to curtail hiring less than some economists feared, a government report this month showed.
Read more: https://abcnews.go.com/Business/fed-expected-hold-interest-rates-steady-defying-trump/story?id=122923521
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