Federal Reserve Holds Interest Rates Steady. Chair Jerome Powell Deflects Questions About Trump's Recent Comments

The Federal Reserve left its benchmark interest rate unchanged after three consecutive cuts last year. The decision signals a more cautious approach as it assesses inflation trends and the potential impact of President Trump’s policies. The Fed highlighted a strong job market with unemployment holding steady at a low level but acknowledged that inflation remains elevated. Powell declined to comment on President Trump's recent remarks about lowering oil prices and interest rates, stating he had no direct contact with the president.