Trump’s blasting of the Federal Reserve and Jerome Powell came just hours after the announcement that interest rates would stand at 4.25% to 4.5%.

Faced with a solid economy and mounting inflation concerns, the U.S. central bank has said it will “move cautiously” on cutting interest rates.

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.