Federal Reserve leaves key rate unchanged amid mixed economic signals

The US Federal Reserve decided Wednesday to keep its benchmark interest rate unchanged amid mixed signals about the direction of the US economy.[WASHINGTON] The US Federal Reserve decided Wednesday to keep its benchmark interest rate unchanged amid mixed signals about the direction of the US economy.

Conflicting economic data has complicated the Fed's decision-making, while repeated attacks by President Donald Trump have left the institution open to concerns it might bow to political pressure.Fed Chair Jerome Powell - whom Mr Trump appointed - will have the opportunity to explain the rationale more fully at a press conference set for 2.00pm .

There also was one policy shift: a small reduction on interest paid to banks on cash reserves to 2.35 per cent from 2.4 per cent.

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