President Trump renewed his criticism of the Federal Reserve and Chairman Jerome Powell after the central bank left interest rates unchanged at its January meeting.

Trump accused the Fed of mishandling the economy and failing to address inflation, which has decreased to 2.9% but remains above the bank’s 2% target.

Powell stated that the Fed was cautious about further rate cuts due to economic uncertainties.

Trump, who has called for lower interest rates, also proposed policies such as tariffs and tax cuts that could impact inflation, the BBC has reported.

Powell emphasized the Fed’s focus on data, distancing it from political pressures despite questions about recent White House orders and its withdrawal from a global climate-focused group.

Written by B.C. Begley