Fed Decision On Wednesday, Powell-Led Panel Set To Lead Global Peers With Interest-Rate Hold Read Time: 4 mins Share WhatsApp Facebook Reddit Email The Federal Reserve and three of the central banks that just backed its embattled chair are poised to keep interest rates unchanged at an edgy moment for global policymakers. Officials in Washington are widely expected to defy US President Donald Trump's calls for lower borrowing costs on Wednesday at the end of their two-day meeting. Peers in Brazil, Canada, and Sweden may also retain current settings. Those latter three were among more than a dozen, including the Bank of England and European Central Bank, whose chiefs spoke out in “full solidarity” with Chair Jerome Powell, backing independence at a time when the administration in Washington is dialing up the pressure on him and his colleagues. Aside from Trump's frequent complaints at its unwillingness to slash interest rates, the Fed now faces grand jury subpoenas threatening criminal indictments, while the Supreme Court heard arguments on Wednesday on whether the president can fire Governor Lisa Cook. Beyond that melodrama, every central bank is acting against a tense global backdrop, evidenced by the recent market rout in Japan, lingering investor concern over Trump's designs on Greenland, and his incessant threats of further trade disruption.
