Even so, the Fed will almost certainly leave its key rate unchanged at about 4.3% when it meets Tuesday and Wednesday. Powell and many of the other 18 officials that sit on the Fed’s rate-setting committee have said they want to see how Trump’s tariffs affect the economy before making any moves.

President Donald Trump said Wednesday that Federal Reserve Chair Jerome Powell has kept interest rates too high and that he might call the central bank chief.

U.S. President Donald Trump said he will not remove Jerome Powell as Federal Reserve Board Chairman before his term ends in May 2026 while describing the central banker as "a total stiff" and repeating calls for the Fed to lower interest rates.