India, Jan. 29 -- WASHINGTON, January 29 - Federal Reserve Chair Jerome Powell said Wednesday the central bank will leave its key interest rate unchanged at about 3.6%, marking a pause after three cuts last year. The decision, which comes amid repeated public criticism fromPresident Donald Trump, was driven by what the Fed characterized as a stabilizing job market and "solid" economic growth.

The Federal Open Market Committee voted 10-2 to maintain the benchmark federal funds rate in its current target range of 3.5% to 3.75%. In its official statement, the committee upgraded its description of economic growth from last month's "modest" to "solid" and noted signs that the hot labor market is cooling toward better balance. This rate influe...