The Federal Reserve has raised interest rates again, in spite of warnings from Donald Trump against the move. Officials at the US central bank voted to lift the Fed's key interest rate by 0.25%, to a target range of 2.25%-2.5%, reports BBC.
But they also said future increases could come at a slower pace amid concerns about global growth.It comes after the US president on Tuesday warned the Fed against making "yet another mistake" in raising rates, urging it instead to "feel the market".
He also urged the bank not to wind down a multi-billion dollar stimulus programme brought in after the financial crisis, BBC reported.
Mr Trump – who appointed the Fed's chairman, Jerome Powell – has repeatedly blamed the central bank for unsettled markets and dismissed analysts who cite other factors, such as rising trade tariffs.
But his remarks have put pressure on the Fed, as presidents generally avoid criticising the bank publicly, for fear of politicising the institution.
