Fed likely to hold interest rates steady amid Trump’s pressure [Video]

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.Fed officials, led by Chair Jerome Powell, have cut their rate for three meetings in a row, to about 4.3%, from a two-decade high of 5.3%. Yet with several recent economic reports showing healthy hiring and some progress on inflation, policymakers have said that the pace of rate cuts will slow this year. Some have suggested that few reductions are needed at all.While the two-day meeting that ends Wednesday may be uneventful, it nevertheless kicks off what is likely to be a turbulent year for the Fed. Trump, last Thursday, made clear he expects to comment on interest-rate policy and said, “I know interest rates much better than they do.”At the same time, Fed officials are also …