Fed defies Trump to hold interest rates steady

The US Federal Reserve has defied pressure from President Donald Trump, by holding interest rates steady. The policy announcement was partly overshadowed by ongoing tensions with the administration. Fed Chairman Jerome Powell – who is facing a criminal probe he describes as politically motivated – insisted the central bank would maintain its independence. Also in the show – the US dollar slides to its lowest level in four years, and Paris Fashion Week deals with the rise of ultra fast fashion.