Trump narrows Fed chair candidates to four, excluding Treasury Secretary Bessent

Federal Reserve Chair Jerome Powell is defending the central bank’s response to the COVID-19 pandemic.

The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite harsh criticism from President Donald Trump and his demand that the Fed reduce borrowing costs.

The Federal Reserve is nearly certain to keep its key interest rate unchanged at its policy meeting this week, just a few days after President Donald Trump said he would soon demand lower rates.