Fed chair declines to provide ‘any response or comment whatsoever’ on president’s public demands for lower rates

Federal Reserve officials decided on Wednesday to hold interest rates steady as uncertainty over Donald Trump’s impact on the US economy looms and inflation remains above the central bank’s target levels.

This is the first time Fed policymakers have met since the president, who has made clear he wants rates to fall, returned to the White House. The benchmark interest rate now sits at a range of 4.25% to 4.5%.

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© Photograph: Kevin Lamarque/Reuters

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© Photograph: Kevin Lamarque/Reuters

The U.S. central bank did not cut borrowing costs amid a solid economy and rising inflation risks.

© Karl Russell

Faced with a solid economy and mounting inflation concerns, the U.S. central bank has said it will “move cautiously” on cutting interest rates.

© Jeenah Moon for The New York Times

Faced with a solid economy and mounting inflation concerns, the U.S. central bank has said it will “move cautiously” on cutting interest rates.

© Jeenah Moon for The New York Times