The Federal Reserve is leaving its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut.

Major U.S. airlines are reducing their flight schedules and revising or withdrawing their profit outlooks for the year due to less domestic travel demand as sentiment about the national and global economies sours.

A much-awaited economic boom coming off the pandemic recession appeared to edge closer to reality Thursday with fresh data showing the pace of layoffs dwindling, consumers spending freely and manufacturing rebounding.