The Fed is not only hesitating to raise rates this year; it also predicted that it would raise rates more slowly in future years. The American economy has posted steady growth since 2009, but Fed officials remain concerned that higher interest rates might disrupt that expansion. They argue that continued employment gains increase the risk that the Fed will wait too long to raise rates. Fed officials, while declining to respond directly to Mr. Trump, have rejected his criticism. Even those ready to raise rates say that political considerations are not a factor in the internal debate.

Source: New York Times September 21, 2016 18:13 UTC