By bizn_fun 
Two Fed officials – Stephen Miran, who is on leave from his post at the White house where he leads Trump’s Council of Economic Advisers and Christopher Waller – voted in favour of a 0.25 percentage point cut.
A recent federal criminal probe intensified concern about political pressure on the Fed.
After a year of Trump’s relentless attacks on Powell, whose term as chair ends in May, federal prosecutors opened a criminal investigation earlier this month over testimony he gave to a Senate committee last year about renovations to Federal Reserve buildings.
Wall Street investors are eagerly awaiting Powell’s press conference following the central bank’s rate decision – his first since condemning the Department of Justice (DoJ) probe.
The S&P 500 stock index fluctuated ahead of his remarks, briefly surpassing 7,000 points for the first time on Wednesday morning.
Powell previously said he believed the federal investigation stemmed from Trump’s anger that the Fed had not brought interest rates down quickly enough.
Former heads of the US central bank strongly criticised the investigation, too, describing it as a bid to undermine the Fed’s independence.
The president has publicly urged Powell to cut interest rates in order to reduce the US government’s hefty borrowing costs and to make it easier for Americans to get mortgages and other loans.