The Federal Reserve now needs to be on Trump watch if it wants to engineer the proper dose of monetary policy, according to Bank of America chief Brian Moynihan. "They've got a new administration with a new set of fiscal policies,

President Trump has said he will "demand" lower interest rates, raising questions about his ability to influence the Federal Reserve.

That’s the prediction of Bank of America economists who think Canada’s central bank will cut 25 basis points on Jan. 29 and then hold its key rate at 3 per cent. “We expect the forward guidance to signal a pause as the BoC waits to see how both domestic activity and U.S. trade policy play out,” said the economists led by Carlos Capistran.

The Federal Reserve is likely finished with rate cuts for the foreseeable future, according to a Bank of America Corp. (NYSE: BAC) expert who spoke at a local event.

Just when Americans were hoping for relief from high interest rates, economic indicators are pointing in an unexpected direction.

The Federal Reserve held interest rates steady at its January meeting following three consecutive rate cuts amid uncertainty over inflation and economic conditions.

There is so much uncertainty over potential tariffs and fiscal policy, “keeping things steady looks like the prudent move.”

Tech stocks led markets lower on Wednesday as the broader mood stayed muted after the Federal Reserve's latest interest rate decision saw the central bank keep rates unchanged in a range of 4.25%-4.5%.

The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them. The announcement put the central bank on a potential collision course with Trump, though a longstanding norm of independence typically insulates the Fed from direct political interference.

Stocks pared losses after Jerome Powell eased Wall Street’s concerns about lack of inflation progress, saying a reference on that front in the Federal Reserve’s policy statement wasn’t meant to send any signal.

In December, economists believe the overall PCE index rose 0.3% on a monthly basis and 2.6% on an annual basis, according to FactSet’s consensus estimates. They anticipate that the core measure of PCE inflation, which excludes volatile food and energy prices, rose 0.2% on a monthly basis and 2.8% over the past year.