The Federal Reserve left interest rates unchanged on Wednesday, defying a push from President Trump for lower rates intended to stimulate the economy. The U.S. economy is “solid,” the central bank said in a statement, suggesting it was in no rush to move interest rates, which are just under 2.5 percent. Quantitative easing, or QE, was a bond buying program the Fed utilized in the aftermath of the financial crisis to pump money into the financial system and keep interest rates low. “We do expect that this [low inflation] reading will be transient and inflation will move back up,” Powell said. Trump was irate after the central bank raised interest rates several times last year, which he views as a threat to his reelection chances.

Source: Washington Post May 01, 2019 18:09 UTC