Fed leaves interest rates unchanged amid pressure from Trump

Monetary Policy - The Federal Reserve decided to keep interest rates unchanged for the fifth consecutive time [1] - President Trump has been pressuring the Fed to cut interest rates to boost the economy [1] Economic Performance - America's gross domestic product (GDP) grew 3% in the second quarter [2] - The US economy shrank 0.5% in the first quarter [2] - The whiplash in GDP could be attributed to the back and forth over tariffs [2] - Imports dropped dramatically in the most recent quarter [2]