US Fed keeps key interest rate steady despite Trump's continued pressure

The US Federal Reserve held its benchmark interest rate steady for the fifth consecutive time on Wednesday, despite President Donald Trump's repeated calls for the central bank to lower the rate. The Fed announced its decision to keep the rate at the 4.25-4.50 percent range after the two-day Federal Open Market Committee meeting where two members of its Board of Governors voted against the decision, preferring to lower the rate by a quarter percentage point -- the first dissent by two governors