The Fed holds interest rates steady despite pressure from President Trump
Summary
The Federal Reserve decided not to change interest rates this week. This decision occurred despite President Trump asking for lower rates and follows a report of modest growth in the U.S. economy.Key Facts
- The Federal Reserve kept interest rates the same this week.
- President Trump had asked for lower interest rates.
- The Commerce Department released a report showing modest growth in the U.S. economy.
- Interest rates are charges for borrowing money.
- The Federal Reserve manages interest rates to help control the economy.
- The report and decision suggest the economy is still growing, though not rapidly.
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