Federal Reserve Chair Jerome Powell discussed the central bank’s decision to hold the benchmark federal-funds rate at its current range around 4.3% after three consecutive rate cuts beginning in September,

President Donald Trump has called out the Federal Reserve in recent weeks, urging the central bank to continue cutting interest rates. But Chair Jerome Powell said Wednesday that he hasn’t had any contact with the president and declined to comment on any of Trump’s remarks.

Jerome H. Powell has been a member of the Board of Governors of the Federal Reserve System (FRB) since May 25, 2012, appointed by then-President Barack Obama to fill an unexpired term. He was reappointed by Obama and sworn in on June 16, 2014, for a term that expires on Jan. 31, 2028.

The best indicator of monetary policy’s impact on the broader economy is what you see when “looking out the window,” Federal Reserve Chairman Jerome Powell told a room full of reporters following the Federal Open Market Committee’s (FOMC) January 28-29 meeting.

Federal Reserve Chair Jerome Powell said that while there is a lot of uncertainty about the outlook right now, the U.S. economy is still in a good place and the current situation isn’t as dire as it was at times such as the Covid-19 pandemic or the 2008 global financial crisis.

Fed Chair Jerome Powell is taking questions from journalists after the central bank held interest rates steady following three consecutive cuts at the end of 2024.

Central bank policymakers are widely expected to stand pat on interest rates. Investors await further details from Fed Chair Jerome Powell’s press conference.

Fed Chair Jerome Powell said “we do not need to be in a hurry to adjust our policy stance” and monetary policy is “well positioned” for the challenges at hand.

There is so much uncertainty over potential tariffs and fiscal policy that “keeping things steady looks like the prudent move,” one economist said.

After Trump issued an executive order on Jan. 20 ending DEI programs across the federal government, the Fed took down pages on its website dedicated to diversity and inclusion

Trump said Powell and the Fed "failed to stop the problem they created with inflation" in a post on Truth Social on Wednesday.