Scott Horsley

Four.

You're welcome.

The central bank had cut interest rates at its last three meetings in an effort to prop up the sagging job market.

But with inflation still well above the Fed's 2 percent target, policymakers opted to stand pat today.

The vote was 10 to 2, with Fed Governors Chris Waller and Stephen Myron dissenting in favor of another quarter point rate cut.

The Fed's benchmark rate will stay in a range between 3.5% and 3.75%, just as financial markets had expected.

President Trump has been demanding lower interest rates, even though the central bank's designed to be insulated from that kind of political pressure.

Trump is expected to nominate a new chairman of the Federal Reserve soon to replace Jerome Powell, whose term expires in May.

Scott Horsley, NPR News, Washington.

The Federal Reserve has lowered interest rates three times since September out of concern with a softening job market.

Job growth has slowed sharply over the last year, and surveys show worries about job security are weighing on consumer confidence.

But inflation is still higher than the Fed would like, so a majority of Fed policymakers are expected to vote to keep rates where they are for now.

President Trump insists borrowing costs should be much lower, and he's been demanding the Fed do his bidding, even though the central bank is supposed to be insulated from political pressure.

Trump is preparing to nominate a replacement for Jerome Powell, whose term as Fed chairman is set to expire later this spring.

Scott Horsley, NPR News, Washington.

The U.S.

population grew by 1.8 million people during the 12 months ending last June.

That's about half the growth rate of the previous year.

The downshift reflects a historic drop in net migration as fewer people enter the country through legal channels and others are forcibly removed.

Census forecasters say if current trends continue, immigration could fall by another million people in the current year.