As widely expected, the Federal Reserve held its policy rate at 4.25%-4.50% on Wednesday, as the Federal Open Market Committee assesses the economy for evidence that a disinflationary trend is continuing.

The Federal Reserve on Wednesday kept interest rates unchanged, bypassing a trend of dropping cuts and bucking President Donald Trump's wishes amid uncertain economic times,

Fed chair Jerome Powell said he has not talked with Trump since the president demanded last week “interest rates drop immediately.”