US Federal Reserve holds interest rates steady, defying Trump pressure

The US Federal Reserve held interest rates steady on Wednesday at its first policy gathering this year, citing robust economic growth, as the central bank resists President US Donald Trump’s mounting pressure for cuts. The Fed’s 10-2 vote maintains rates at a range between 3.50 per cent and 3.75 per cent, an outcome that was widely expected as officials await more data on the world’s biggest economy. In a statement on its decision, policymakers flagged that economic activity has been “expanding...