The Federal Reserve leaves interest rates unchanged despite President Trump's rate cut demands
Policymakers led by Fed Chairman Jerome Powell unanimously agreed to leave rates alone, sticking with the wait-and-see approach outlined earlier this year amid uncertainty about where the US economy is headed."We don't see a strong case for moving in either direction," said Powell at a press conference following the Fed's two-day meeting in Washington." The committee is comfortable with our current policy stance.
2% GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small!"Powell, a Trump pick, attracted the President's ire last year after repeated rate hikes, just as the economy showed signs of weakening amid Trump's trade wars. A December stock market swoon intensified the President's broadsides against Powell, who Trump described as"loco" over rate increases.
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