The Federal Reserve on Wednesday is set to unveil its latest decision on the level of interest rates , hoping to guide the economy through a topsy-turvy stretch of slow hiring and rising inflation .

The high-stakes announcement marks a flashpoint in the monthslong pressure campaign directed at the Fed by President Donald Trump.

In recent weeks, Trump has moved to fire one member of the Fed's board of governors and secure Senate confirmation for another. Both officials are on track to be among the 12 policymakers who will cast votes on the interest-rate decision, though their status remained uncertain days before the Fed meeting.

A U.S. flag flies over the Federal Reserve building on May 4, 2021, in Washington. AP Photo/Patrick Semansky, File

The race to reshape the Fed come

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