Fed, Trump and Powell
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The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.
U.S. President Donald Trump on Wednesday called on the Federal Reserve to lower the federal benchmark interest rate by at least 3 percentage points, renewing his call for the U.S. central bank to lower rates to help reduce the cost to service the nation's debt.
Federal Reserve Chair Jerome Powell says cutting interest rates could push inflation even higher. President Trump called for Powell to resign in response.