Fed holds interest rates steady despite Trump’s renewed calls to lower them

The Federal Reserve held interest rates steady Wednesday, marking the fifth time it has done so since December. The Guardian reports the Fed's committee voted nine to three to keep rates unchanged, though three members dissented, seeking a quarter-point increase. The hold reflects competing economic signals: cooler inflation data released earlier this month had eased rate-hike expectations, but a tenuous peace deal between the US and Iran has pushed energy prices back up. The decision comes amid continued calls from Donald Trump for rate cuts rather than increases.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton