Federal Reserve likely to defy Trump, keep rates unchanged this week

By CHRISTOPHER RUGABER, Associated Press Economics Writer
WASHINGTON (AP) — The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite weeks of harsh criticism and demands from President Donald Trump that the Fed reduce borrowing costs.
After causing a sharp drop in financial markets two weeks ago by saying he could fire Fed Chair Jerome Powell, Trump subsequently backed off and said he had no intention of doing so. Still, he and Treasury Secretar