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,

Federal Reserve Chair Jerome Powell delivers remarks following the Central Bank’s two-day policy meeting on Wednesday, deciding to leave interest rates unchanged.

The Federal Reserve kicked off its second Trump era right where it left off: Doing exactly what it wanted to do, ignoring President Donald Trump’s demands that it lower rates.

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 first Federal Open Market Committee meeting of 2025 is here. The Federal Reserve's policymaking arm concludes its two-day meeting that began on Tuesday and delivers a decision on interest rates later today.

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.

A desire for low rates confronts a very different economic backdrop—with higher price pressures—from his first term.

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.

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

Federal Reserve Chair Jerome Powell defended the central bank’s allocation of resources in the face of calls to slim down government agencies. Last month, the billionaire Elon Musk, who has been tasked with cutting costs in the federal government,

Last month, Fed officials signaled they expect just two rate cuts for all of 2025, a shallower path of reductions than previously anticipated. Policymakers will update their projections on the economy and rates at their next meeting in March. This month’s pause in rate cuts comes amid increasing uncertainty about how inflation will evolve.