The Federal Reserve is expected to leave borrowing costs unchanged at the end of a two-day policy meeting Wednesday even as the White House steps up pressure to lower them.
Officials on the Federal Open Market Committee have signaled they likely won't adjust interest rates for the rest of the year. Yet President Donald Trump and administration officials have repeatedly called for a rate cut as they seek to offer the economy a boost ahead of the 2020 elections.that the economy would"go up like a rocket if we did some lowering of rates.
The Federal Reserve operates independent of political interests, but the president has long lashed out against policies he views as a hindrance to growth. Those broadsides have grown louder in recent months. "Mr. Trump has been attacking the Fed's actions with more vitriol than any previous president in memory," Steven Rattner, a Wall Street financier who was an adviser during the Obama administration, wrote Monday in a New York Times op-ed.
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