As was widely expected, Fed policymakers on Wednesday left the central bank's overnight rate unchanged at a range of 4.25% to 4.5%.

President Donald Trump called on the board of the Federal Reserve to take control from Chairman Jerome Powell if interest rates are not lowered. After a brief display of public friendliness, Trump resumed his rhetorical offensive against Powell on Wednesday after he announced that the Fed would not lower interest rates.

This was the fifth consecutive meeting at which the Federal Open Markets Committee (FOMC) kept its benchmark Federal Funds rate unchanged at 4.25-4.5%.