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Federal Reserve keeps interest rates unchanged despite Trump pressure
The Federal Reserve has voted to keep interest rates the same - despite pressure from Donald Trump to make a cut.
The US central bank said on Wednesday that it will keep its key lending rate between 3.5% to 3.75%, claiming that economic activity has been "expanding at a solid pace". It comes after the Fed cut rates three times last year amid growing pressure from the White House to lower borrowing costs and make it easier for people to get mortgages and other loans.
In a statement, the Fed said that "job gains have remained low, and the unemployment rate has shown some signs of stabilisation". Inflation remained "somewhat elevated.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
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