The president bashed Jerome Powell on inflation less than two hours after the Fed chair announced interest rates would stay put. As Bank of America CEO Brian Moynihan may attest, Trump’s timing is not coincidental.

The Federal Reserve is widely expected to keep interest rates unchanged as its two-day policy meeting concludes on January 29. Investors are nearly unanimous in anticipating that the Fed will maintain rates within the current 4.

The US Fed held rates steady, reaffirming its independence despite President Donald Trump’s demands for cuts. Fed Chair Jerome Powell dismissed political pressure, while Trump accused the Fed of failing to control inflation.

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,

US Federal Reserve chief Jerome Powell (pictured) mounted a robust defence of the central bank's independent decision making.

Chairman Jerome Powell said the central bank is in wait-and-see mode amid mostly positive U.S. economic conditions.

Powell said the Fed is working to align its workforce policies with Trump but signaled that changes could be limited.

Speaking virtually at the World Economic Forum in Davos, Switzerland, President Donald Trump indicated Thursday that he would “demand that interest rates drop immediately.” Since setting rates is the prerogative of the supposedly politically independent Federal Open Market Committee,

Fed leaves interest rates unchanged, with Powell offering little on inflation or employment amid uncertainty over Trump's economic policies.

In an address to the World Economic Forum in Switzerland, delivered via video link Thursday, President Donald Trump revisited his displeasure with the policy direction of the U.S. Federal Reserve that surfaced during his first term in spite of having appointed the leader of the monetary body.

Federal Reserve Chair Jerome Powell pushed back on billionaire Elon Musk's claim the central bank is "absurdly overstaffed," saying the Fed has a careful budget process.