Trump lambasts the Fed as it leaves interest rates unchanged

Interest rates 4.25%-4.5%

Donald Trump has lashed out at the Federal Reserve for failing to deal with inflation, after the US central bank voted to hold interest rates on Wednesday (29 January).

At its January meeting, the Fed left key interest rates unchanged between 4.25% to 4.5%, the first pause after three consecutive cuts, including a 50 bps slash in September last year.  In a press conference, chair of the Federal Open Market Committee Jay Powell said that, while labour market conditions are "cooling" and "solid", the current economic outlook meant that US rate-setters "do not need to be in a hurry to adjust our policy stance".  He also justified the central bank's decision to err on the side of caution, noting that "reducing policy restraint too fast or too much could ...