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Fortune

Marco Quiroz-Gutierrez

Jerome Powell’s Federal Reserve holds rates steady despite immense pressure from Trump to cut, cut, cut

Jerome Powell Donald Trump Unemployment Economy Fortune GDP the Federal Reserve US Federal Reserve

(Credit: Chip Somodevilla—Getty Images)

The Federal Reserve kept interest rates unchanged at between 4.25% and 4.5% following the most recent Federal Open Market Committee meeting Wednesday. The Fed’s decision could be felt by President Trump as a rebuke after Trump continuously called for the Fed and Chairman Jerome Powell to cut rates.

The Federal Reserve maintained rates on Wednesday, holding up against the pressure of President Donald Trump and his recently escalated rhetoric.

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