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The US Federal Reserve has held interest rates steady for the fifth-straight time, despite pressure from President Donald Trump to lower them.
Chairman Jerome Powell announced the unchanged rates on Wednesday. But in an unusual dissent, two members of the board voted against the plan, saying they preferred to cut, which is a sign that support for lower rates may be broadening.
Earlier on Wednesday, the Commerce Department reported the US economy grew at an annual rate of 3% over the April-June period, after shrinking in the first three months of the year.
The BBC’s Michelle Fleury explains what the decision by the Federal Reserve means for the US economy.
BBC News
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