The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite harsh criticism from President Donald Trump and his demand that the Fed reduce borrowing costs.

President Trump said Sunday he would not fire Federal Reserve chair Jerome Powell before the central bank leader's term ends over the next year. Why it matters: An earlier suggestion that Trump would attempt to remove Powell — a legally dubious move — roiled financial markets,

President Donald Trump said the US economy is a mixture of his enacted policies and the effects of the Biden administration in a wide-ranging interview on NBC’s “Meet the Press with Kristen Welker.”

U.S. President Donald Trump looks on as Jerome Powell, his nominee to become chairman of the U.S. Federal Reserve, speaks at the White House in Washington, U.S., November 2, 2017. REUTERS/Carlos Barria/File Photo WASHINGTON (Reuters) -U.