Federal Reserve snubs Trump by refusing to cut interest rates
- US rates held at 2.25% to 2.5%
- President had called for ‘one point’ cut
The US Federal Reserve snubbed Donald Trump’s call for a cut in interest rates on Wednesday as the central bank noted economic activity was still rising at “a solid rate”.
After a two-day meeting the Fed decided to hold rates steady at a range between 2.25% and 2.5%.