Despite pressure from President Donald Trump to slash interest rates, the Federal Reserve was expected to stick to its wait-and-see approach.

Vice President JD Vance said Federal Reserve Chair Jerome Powell has been slow to deal with inflation and helping with trade deals. “He’s a nice guy,” Vance said in a Fox News interview Thursday, “but he’s been wrong about almost everything.

Fed Chair Jerome Powell is set to speak with reporters after the Federal Reserve's decision to hold interest rates steady amid widespread economic uncertainty tied to President Trump's tariffs.

Federal Reserve Chair Jerome Powell reiterated the need for a wait-and-see approach during a press conference following the committee's policy announcement.

The Fed leader discussed the decision to hold rates steady, the outlook for inflation and the economy, and the possible effects of tariffs.

As President Trump’s Middle East trip continues, investors are refocusing on the basics with Walmart earnings, producer inflation, remarks from Federal Reserve chairman Jerome Powell and a reported blockbuster retail merger.

A prominent House Republican who is in charge of a monetary policy task force told Yahoo Finance he still supports Jerome Powell as Federal Reserve chair on a day when President Trump once again criticized the central bank boss for not lowering interest rates.