Ary News
WASHINGTON: 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 of undercutting his efforts to boost economic growth, said on Twitter on Tuesday the Fed should cut its key overnight lending rate by a full percentage point and renew the quantitative easing program that saw it pump trillions of dollars into the economy in response to the 2007-2009 financial crisis and recession. Fed officials were in the middle of their latest two-day policy meeting when Trump made his comments. The unorthodox advice – more in line with what economists on the far left of the political spectrum might advocate – is likely to go unheeded by a central bank that views its current target interest rate as roughly where it should be to keep the growing U.S. economy on an