Federal Reserve, Powell
Digest more
The central bank held steady on rates, keeping them at a range of 4.25% to 4.5%, but highlighted rising inflation risk.
Federal Reserve Chair Jerome Powell reiterated the need for a wait-and-see approach during a press conference following the committee's policy announcement.
President Donald Trump has relentlessly attacked Fed Chairman Jerome Powell since he retook office, most recently calling him a “fool” Thursday morning after the Fed chose to hold interest rates steady the day prior.
A prominent House Republican who is in charge of a monetary policy task force told Yahoo Finance he still supports Jerome Powell as Federal Reserve chair on a day when President Trump once again criticized the central bank boss for not lowering interest rates.
Despite pressure from President Donald Trump to slash interest rates, the Federal Reserve was expected to stick to its wait-and-see approach.
Despite concerns that President Donald Trump's tariffs and the resulting decline in orders on imports to the U.S. could lead to "empty shelves" and higher prices for consumers, Powell said he doesn't see their impact showing up in the data yet.
President Trump repeated his call for the Federal Reserve to cut interest rates after April's inflation report was cooler than expected.
The markets have come around to the Federal Reserve chairman’s cautious approach to lowering interest rates. President Trump could be a tougher convert.