Washington DC, June 18 -- The US Federal Reserve on Wednesday decided to keep benchmark interest rate unchanged at a range of 4.25 to 4.5 percent, amid ongoing trade policy shifts and growing pressure from President Donald Trump, The Hill reported.

Fed officials reiterated the overall strength of the US economy, citing declining inflation and consistently low unemployment. The unemployment rate has held steady at 4.2 percent over the past three readings, with around 7 million people currently unemployed in a labour force of 170 million, the report said.

It said inflation slightly increased in May, with the consumer price index (CPI) rising at a 2.4 percent annual rate, compared to 2.3 percent in April. The personal consumption expenditu...