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.

Federal Reserve Chair Jerome Powell is holding a press conference Wednesday afternoon, the first since President Trump began his second term. Powell, who is expected to serve out the rest of his

The Fed declined Wednesday to lower the interest rate in a move that ends a three-cut run and goes against the direction of President Trump.

The Federal Reserve is widely expected to make no change to its benchmark federal funds rate at its January meeting, a decision to be announced today.

Investors today will be listening to how Fed Chair Jerome Powell addresses the potential effect that President Donald Trump could have on the future path of monetary policy.

The United States (US) Federal Reserve (Fed) will announce monetary policy decisions following the first policy meeting of the year on Wednesday. Market participants widely anticipate that the US central bank will leave monetary policy settings unchanged after cutting the interest rate by 25 basis points (bps) to 4.25%-4.5% in December.

Trump revived his criticism of the Fed and its chair Jerome Powell, whom he first appointed to run the US central bank. ‘I’ll demand that interest rates drop immediately,’ he said

Investors widely expect the Fed to hold interest rates steady, putting the central bank on a potential collision course with Trump. A longstanding norm of independence typically insulates the central bank from direct political interference.

With inflation still hovering above the 2% target, policymakers are expected to take a cautious stance, closely monitoring economic trends and the potential impact of the new administration’s policies.

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Just over a week after Donald Trump’s return to the White House, Federal Reserve officials are gathering in Washington to discuss the outlook for interest-rate policy, with a goal of simply trying to stay out of the way.