Fed holds rates steady
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The January meeting marks the first since Fed Chair Jerome Powell confirmed the Department of Justice subpoenaed the central bank.
The US Federal Reserve has voted to hold interest rates as its chair, Jerome Powell, defended the importance of central bank independence. The Fed said it will keep its key lending rate between 3.5% to 3.75%, stating that economic activity in the US "has been expanding at a solid pace".
The Federal Reserve has kept interest rates on hold for the first time since July, as chair Jay Powell said the US central bank was in no rush to cut them despite Donald Trump’s relentless campaign to drastically lower borrowing costs.
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