Jerome Powell remained confident in the Federal Reserve's independence as it faces legal battles against US President Donald Trump's administration, which include an investigation into the Fed chairman.

"I'm strongly committed to that, and so are my colleagues," he told reporters on Wednesday after the Fed held interest rates steady at about 3.64 per cent.

Among the other legal battles the Fed faces is Mr Trump's attempted removal of Fed governor Lisa Cook.

During arguments before the Supreme Court last week, the nation

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