Federal Reserve expected to stand pat on rates even as Trump demands cuts
The Federal Reserve is nearly certain to keep its key interest rate unchanged at its policy meeting this week, just a few days after President Donald Trump said he would soon demand lower rates. Fed officials, led by Chair Jerome Powell, have cut their rate for three meetings in a row, to about 4.3%, from a two-decade high of 5.3%. While the two-day meeting that ends Wednesday may be uneventful, it nevertheless kicks off what is likely to be a turbulent year for the Fed. Trump, last Thursday, made clear he expects to comment on interest-rate policy and said, “I know interest rates much better than they do."
