Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump's tariffs effect the economy,

President Donald Trump has openly criticized Federal Reserve Chair Jerome Powell and demanded lower interest rates.

Federal Reserve Chair Jerome Powell told a financial conference in Portugal on Tuesday that he would have lowered interest rates if not for President Trump's tariffs. The White House all-but directly asked the Fed to lower rates yesterday,