The Federal Reserve on Wednesday held off on raising its key interest rate, which plays a role in loans to consumers and businesses. The Fed is sticking to the script it has been forecasting to financial markets, but it's expected to raise rates twice more this year — on top of the increases it implemented in March and June . In a statement after its two-day policy meeting, the Fed said "the labor market has continued to strengthen and that economic activity has been rising at a strong rate." The Fed stuck to its target for the federal funds rate in a range between 1.75 percent and 2 percent. This was the central bank's first meeting on rates and the economy since President Trump broke with longstanding tradition and criticized the Fed for raising rates. The Fed's independence from politics has been viewed as sacrosanct in recent history. There is a longstanding belief that financial markets need to trust that the most powerful central bank in the world is acting in the best interests
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