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US central bank held interest rates steady, despite pressure from the president

By dragging its feet, the central bank risks harming both financial markets and the economy

Growth is still strong and inflation too high

The onus is on the central bank to forestall a weakening in the US labour market

Declining to cut is punishment enough

What matters now is what central banks can do rather than what they will do

Wobbles in the bond market suggest investors think the US central bank turned too dovish too soon

Central bank is facing pressure to take an even more dovish stance

If the economy is doing well with the current level of interest rates, why lower them?

Jay Powell sets some limits