WASHINGTON - The U.S. Federal Reserve left its key interest rate unchanged on Wednesday, despite pressure from President Donald Trump for cuts.

The range remains between 4.25% and 4.5%, the Federal Reserve announced in Washington.

Market observers had anticipated the Fed would keep rates steady, with a cut expected in September at the earliest.

Chairman Jerome Powell continues to stand up to Trump, who believes that the current key interest rate range is too high and has repeatedly verbally attacked the Fed leader in recent months.

Trump wants a lower key interest rate to stimulate the economy in the United States.

The key interest rate is important for banks as it is the rate at which they can borrow money from the central bank.

Governments also find it easier to take on debt when i

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