Fed holds rates amid pressure from White House
Powell says he has had no contact with Trump since president said he would “demand” easing of policy
The US Federal Open Market Committee (FOMC) has maintained its interest rates target at 4.25–4.5%, despite pressure from president Donald Trump to ease policy.
On January 23, Trump had said he would “demand that interest rates drop immediately. And likewise, they should be dropping all over the world”.
The president has also repeatedly promised to impose tariffs on the US’s largest trading partners – a move that economists say could have a significant negative impact on domestic prices and levels
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