In spite of constant, threatening pressure from President Donald Trump to lower interest rates, the Federal Reserve is likely to hold interest rates steady at this week’s policy meeting, as reported by CNBC.
Trump has continually insisted that the Fed cut borrowing costs amid the broader economic uncertainty of a weak employment market and inflation pressure. However, the Fed is expected to hold its current course of a 3.50% to 3.75% range and expressed commitment to balancing inflation risks with labor market stability, rather than lowering interest in the hope of spurring economic growth.
