Sri Lanka, May 11 -- Despite pressure from President Donald Trump to lower interest rates, the Federal Reserve on Wednesday left its benchmark rate unchanged.

The Central Bank maintained its target range for the federal funds rate at 4.25% to 4.50% - 1 percentage point lower than a year ago, when rates reached a 23-year high.

The decision followed a two-day meeting to assess the health of the U.S. economy.

In a statement, the Fed said it is "attentive to the risks to both sides of its dual mandate" and believes the chances of higher unemployment and rising inflation have increased.- scrippsnews

Published by HT Digital Content Services with permission from Sunday Observer (Sri Lanka)....