Fed leaves interest rates unchanged in defiance of Trump’s calls for cuts

Fed officials cite elevated inflation, slow job growth and uncertainty in Middle East as reasons for holding rates

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The US Federal Reserve left interest rates unchanged after its latest board meeting, defying once again Donald Trump’s call for a cut as the central bank prepares for a leadership shake-up next month.

On Wednesday, Fed officials continued to cite elevated inflation, slow job growth and uncertainty in the Middle East as reasons why rates were left untouched.