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%.

The Federal Reserve is leaving its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut.

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.