By james art The Federal Reserve is almost certain that it will maintain its basic interest rate unchanged at its political meeting this week, just a few days after President Donald Trump said he would soon require a lower percentage.
Fed officials, led by President Jerome Powell, reduced their percentage in three meetings in a row to about 4.3%, from the highest of two decades from 5.3%. However, with several recent economic reports showing healthy hiring and some progress in inflation, politicians have said that the rate of reduction in percentage will be delayed this year. Some suggest that some reductions are needed at all.
While the two -day meeting, which ends on Wednesday, may be unobstructed, it still starts what is likely to be a tumultuous year for the Fed. Trump, last Thursday, became clear that he expects to comment on interest policy and said, “I know the interest rates much better than they are.”
At the same time, Fed employees also navigate a delicate period for the economy: they want to maintain the cost of the loan.
Read the full storyS