Fed likely to hold rates as it awaits Trump economic plan details

Washington

THE US Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies.

Mr Trump has promised a large infrastructure spending programme, tax cuts, a rollback of regulations and a renegotiation of trade deals but has offered few details or a timeline for their rollout since his victory in the Nov 8 election.

The central bank's latest policy decision is scheduled to be released at 2pm EST (1900 GMT) on Wednesday at the conclusion of a two-day meeting. Fed Chair Janet Yellen is n…