The Federal Reserve decided to maintain the federal funds rate at 4.25%-4.50%, assessing incoming data and economic outlook. Despite Trump's call for rate reductions following a 3% GDP growth in the second quarter,

On Wednesday, Trump seized on a report showing the economy expanded at a 3% annual rate in the second quarter as evidence that growth is accelerating and called on Powell to cut rates. Yet the Fed typically reduces borrowing costs when the economy is faltering and threatening to send unemployment higher.