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Fed likely to ignore Trump's call to cut interest rates

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The U.S. Federal Reserve, leaning back against pressure from President Donald Trump to slash interest rates, is expected to leave borrowing costs unchanged on Wednesday as it maintains a 'patient' monetary policy stance amid strong economic growth. Trump, who has accused the U.S. central bank

1 / 3FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in WashingtonFILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File PhotoBy Howard Schneider

Fed officials were in the middle of their latest two-day policy meeting when Trump made his comments. U.S. employers added nearly 200,000 jobs in March, evidence of continued strength in the labor market and a sign as well that the Fed's four rate hikes in 2018 had not constrained the economy. Some central bank policymakers have cited ongoing weak inflation, still well below the Fed's 2 percent target, as a sign rates may be too high.

 

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