New York | The Federal Reserve cut its outlook for the US economy on Wednesday (Thursday AEST), with policymakers split on whether they would be able to reduce interest rates this year as Donald Trump’s tariffs bring risks of higher inflation.
The Federal Open Market Committee voted unanimously to hold the benchmark federal funds rate in a range of 4.25 per cent to 4.5 per cent, despite the US president again calling for Fed chairman Jerome Powell to slash borrowing costs.
