By Eric Revell | Fox Business
The Federal Reserve is set to announce its next interest rate move on Wednesday, which could prompt a reaction from President Donald Trump, who recently called for the Fed to lower interest rates.
Members of the Federal Open Market Committee (FOMC) are expected to leave the target for the benchmark federal funds rate unchanged at a range of 4.25% to 4.5% — which would be the central bank’s first pause in this rate-cutting cycle following three consecutive cuts that brought rates down from 5.25% to 5.5%.
The Fed’s anticipated pause could prompt Trump to renew his criticism of the central bank and Fed Chair Jerome Powell, following the president’s call for lower interest rates last week.