The US Federal Reserve is expected to pause cutting interest rates this week, with questions turning to chairman Jerome Powell on defending the central bank's independence.

Wednesday's press conference will be Mr Powell's first public remarks since revealing this month that he is under criminal investigation by President Donald Trump's Justice Department.

β€œI'm not expecting any great revelations on other parts of policy because officials are very divided … The questioning and the most interesting answers will come around the reaction to the latest developments, particularly the criminal proceedings against Powell,” said Michael Pearce,

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