In his most recent remarks about the outlook for the global economy US Federal Reserve chairman Jerome Powell said: "It's murky out there."

Policymakers' rate decision on Wednesday (US time) comes at a difficult moment: economic data have been ambiguous and Fed officials have denied they are paying attention to President Donald Trump's demands for cuts as deep as 100 basis points.

But business investment is contracting, manufacturing is slowing and trade-related uncertainty is increasingly weighing on the Fed's decision-making.

Trump says Fed's 'boneheads' should slash interest rates below zero


The central bank will publish new economic predictions

The impact of uncertainty


Mid-cycle adjustment?

Managing disagreement

Spike in oil prices

Difficult decision to make