The Federal Reserve on Wednesday announced it will not lower interest rates, refusing once again to obey President Trump’s persistent demands to do so.

“We have a man who just refuses to lower the Fed rate,” Trump said last month, in one of his many attacks on Fed Chair Jerome Powell, a constant nemesis of his. “Maybe I should go to the Fed. Am I allowed to appoint myself? I’d do a much better job than these people.”

Trump has spent five straight meetings demanding interest rates to be lowered, which suggests some insecurity about the future state of the economy on his part, especially as economists wait for the full scope of his trade war to reveal itself.

The Fed lending rate will stay within the 4.25 percent to 4.5 percent range.

This is a developing story.