The Globe and Mail reports in its Tuesday edition that the U.S. Federal Reserve is expected to keep its key interest rate unchanged at this week's two-day meeting, following President Trump's recent calls for lower rates. An Associated Press dispatch to The Globe reports that Fed chairman Jerome Powell has reduced rates for three consecutive meetings, bringing them to about 4.3 per cent from a two-decade high of 5.3 per cent. With strong hiring and progress on inflation, officials indicated that further cuts may slow down significantly. Although this meeting may be quiet, it signals the start of a potentially turbulent year for the Fed. Mr. Trump, last Thursday, made clear he expects to comment on interest-rate policy and said, "I know interest rates much better than they do." At the same time, Fed officials are also navigating a delicate period for the economy. They want to keep borrowing costs high enough to push inflation to their 2-per-cent target, without keeping them too high for too long and plunging the economy into a recession. Mr. Trump, who appointed Mr. Powell in 2017, previously threatened to fire him but has since backed off. Mr. Powell's term as chair ends in May, 2026, when Mr. Trump can name a replacement.