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

From the publisher

The US Federal Reserve held interest rates steady on Wednesday in a divided vote, indicating growing pressure on the central bank to address heightened inflation. The Fed’s federal open market committee voted 9-3 to maintain rates, with three dissenting members indicating a preference to raise the rate by a quarter-percentage point. It was the first time in a decade that three board members shared dissent over a policy decision. Cooler inflation data published earlier this month may have eased expectations for an imminent rate hike, but Kevin Warsh, the new Fed chair, said in a news conference that the committee was less interested in “any one piece of data” and…

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