Trump's message to Fed, 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.
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.
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.
Federal Reserve Chair Jerome Powell on May 7 said "the economy is doing fine" during a news conference after the Federal Open Market Committee announced it would keep its key rate steady at 4.25% to 4.5%.
A split is emerging between the Federal Reserve and other major central banks as they try to assess the economic impact of the rapidly shifting global trade war.
Fed warns of growing economic uncertainty, Trump flags first trade deal, White House to revamp AI chip export curbs, and more news to start your day.