The decision means the key interest rates that Americans pay to finance anything from a car to a home renovation will stay steady. Meanwhile, savers who’ve parked their cash in a high-yield savings account will continue benefiting from inflation-beating returns — and yields holding at levels previously not seen for over a decade.

The central bank has said Trump’s tariffs are making it difficult for it to lower rates, something that would otherwise be called for amid signs of slowing economic activity.

Two Dissents Highlight Central Bank's Economic Quandary and Political Strain The Federal Reserve opted to keep its key interest rate unchanged on Wednesday, a decision largely anticipated by markets despite significant public pressure from the Trump administration to lower borrowing costs.