US Fed set to pause rate cuts as it defies Trump pressure

The US central bank lowered rates in each of its last three policy meetings -- bringing them to a range between 3.50 percent and 3.75 percent -- as officials fretted about the cooling jobs market. But solid GDP growth, relatively low unemployment and stubborn inflation have given them reason to shift into wait-and-see mode. The lack of urgency, however, could put the central bank again at odds with Trump, who has repeatedly called for large rate reductions. Trump has sharply escalated pressure...