US Fed keeps interest rates unchanged

The US Federal Reserve kept the target range for the federal funds rate unchanged at 4.25 per cent to 4.5 per cent, though it faces stark pressure and harsh criticism from the Trump administration.

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"Although swings in net exports continue to affect the data, recent indicators suggest that the growth of economic activity moderated in the first half of the year. The unemployment rate remains low, and labour market conditions remain solid. Inflation remains somewhat elevated," said a