What to know about US interest rates staying steady

The US Federal Reserve has retained mounted rates of interest for the fifth consecutive time, regardless of President Donald Trump’s strain to scale back them.

The Chairman of the Board of Administrators, Jerome Powell, introduced the costs that haven’t modified on Wednesday. However in a rare opposition, two members of the board of administrators voted in opposition to the plan, saying they like to scale back, an indication that assist for low charges could develop.

Earlier on Wednesday, the Ministry of Commerce acknowledged that the American economic system grew at an annual charge of three % through the April to June interval, after its contraction within the first three months of the 12 months.

Michelle Flori explains from the BBC what the Federal Reserve of the American Financial system means.