Fed Chair Jerome Powell said Wednesday that he continues to look at the overall progress that inflation has made in moving back toward the central bank’s 2% target. While the bank’s latest statement did leave out a December reference to strides made in the fight against inflation,

President Donald Trump wasted no time criticizing the Federal Reserve after it held interest rates steady Wednesday, posting a message to his social media platform Wednesday afternoon arguing Fed chair Jerome Powell and the central bank "failed to stop the problem they created" on inflation.

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.

Fed officials want downward pressure on the economy to ensure inflation cools to 2 per cent target. Read more at straitstimes.com.

The president’s post suggests that he intends to continue his criticism of Fed Chair Jerome Powell on social media, which became a regular feature during his first term.

Powell made clear that Fed policymakers are in no rush to reduce interest rates further, after lowering borrowing costs by a full percentage point in the final months of 2024. Whe

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.