The U.S. Federal Reserve (Fed) is widely expected to keep interest rates on hold when it meets this week, standing firm despite President Donald Trump's pressure to lower borrowing costs, as it guards against threats to its independence.

The central bank has cut rates three consecutive times since September as the jobs market weakened, bringing them to a range between 3.50% and 3.75%.

But Fed Chair Jerome Powell has signaled the bar would be higher for a further reduction in January. They meet on Tuesday and Wednesday.

"The fact that growth is strong, unemployment is low, equity markets are close to

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