Mumbai, June 19 -- Despite pressure from U.S. President Donald Trump, the Federal Reserve on Wednesday announced its widely expected decision to leave interest rates unchanged.
The Fed said it decided to maintain the target range for the federal funds rate at 4.25 to 4.50 percent in support of its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run.
The central bank's decision came as it noted swings in net exports have affected data but said recent indicators suggest that economic activity has continued to expand at a solid pace.
"The unemployment rate remains low, and labor market conditions remain solid," the Fed said. "Inflation remains somewhat elevated."
In the latest economic projections fr...