Fed holds rates steady, defying Trump’s call for cuts

Fed holds rates steady, defying Trump’s call for cuts

The Federal Reserve held interest rates steady Wednesday for the third meeting in a row, defying President Trump’s repeated calls for the central bank to loosen monetary policy further.

The central bank voted unanimously to maintain its benchmark interest rate in the range of 4.25%-4.5%, a mark reached at the end of 2024 after cutting rates by a full percentage point last fall.