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Wall Street experts anticipate the Fed to cut its rate later this year to stimulate economic growth.

U.S. President Donald Trump has put pressure on the Federal Reserve to cut its lending rate and thus stimulate economic growth. However, Wall Street experts anticipate the Fed to cut the rate later this year.

The Federal Reserve on Wednesday kept its lending rate at 3.25-3.5 percent. The Fed also played down the U.S. President Donald Trump’s statement that he wishes the Fed to lower its benchmark interest rates by 100 basis points.

The committee continues to judge the risks of higher unemployment and inflation caused by the ongoing trade wars.

The central bank will continue to reduce its holdings of Treasury securities, highlighting its bid on Quantitative Tightening (QT). But the Fed noted that it will act appropriately in case of risk emergence to ensure maximum employment and reduce inflation to 2 percent.

“The members of the Federal Open Market Committee (FOMC) will continue to monitor the implications of incoming information for the economic outlook and to assess the appropriate path for adjusting the stance of federal monetary policy in order to support sustained expansion and stable prices,” the statement reads.

The Fed’s statement comes a day after the U.S. President Donald Trump expressed his displeasure over the Fed’s decision to keep the lending rate unchanged despite a broader anticipation for a 25 basis point cut.

In a statement on Tuesday, Trump said he was “not happy” with the Fed’s decision to maintain the lending rate. He added that he would have preferred to see a “larger” rate cut of 50 to 100 basis points.

“I am a big fan of President Trump, and I think he’s doing a great job,” said Joseph Perkins, an economics professor at Boston College. “But I think he’s putting undue pressure on the Fed to cut rates.”

Perkins said that the Fed should be making its decisions based on economic data, not political pressure.

“The Fed is supposed to be an independent institution, and it needs to be able to make decisions without fear or favor,” he said.

Perkins’ comments come amid a broader discussion about the Fed’s role in the U.S. economy. Some experts have argued that the Fed should be doing more to stimulate growth, while others have said that the central bank has already done enough.

The Fed’s decision to keep the lending rate unchanged was largely expected by experts, who also anticipate the U.S. president to continue putting pressure on the central bank to cut rates in the second half of 2020. Despite the trade war with China and the broader economic slowdown in major economies, the members of the Fed’s committee have repeatedly stated that they will act swiftly to ensure a balanced economic recovery.