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The Federal Reserve has raised interest rates again, defying warnings from Donald Trump against the move.

Officials at the US central bank voted to lift the Fed's key interest rate by 0.25%, to a target range of 2.25%-2.5%.

But they also said future increases could come at a slower pace amid concerns about global growth.

It comes after the US president on Tuesday warned the Fed against making "yet another mistake" in raising rates, urging it instead to "feel the market".

He also urged the bank not to wind down a multi-billion dollar stimulus programme brought in after the financial crisis.

Mr Trump - who appointed the Fed's chairman, Jerome Powell - has repeatedly blamed the central bank for unsettled markets and dismissed analysts who cite other factors, such as rising trade tariffs.

But his remarks have put pressure on the Fed, as presidents generally avoid criticising the bank publicly, for fear of politicising the institution.

Skip Twitter post by @realDonaldTrump

I hope the people over at the Fed will read today’s Wall Street Journal Editorial before they make yet another mistake. Also, don’t let the market become any more illiquid than it already is. Stop with the 50 B’s. Feel the market, don’t just go by meaningless numbers. Good luck!

— Donald J. Trump (@realDonaldTrump) December 18, 2018

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End of Twitter post by @realDonaldTrump

At a press conference on Wednesday, Mr Powell defended the Fed's independence, saying that political pressure played "no role whatsoever" in its discussions or decisions.

He added that the Fed had no plans to change its ongoing reduction of its portfolio of Treasuries and mortgage-backed securities.