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%.

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.

The Trump administration is more focused on keeping Treasury yields low rather than on what the Fed does, Treasury Secretary Scott Bessent said. Bessent indicated that Trump will not be hectoring the Fed to cut,

Treasury Secretary Scott Bessent, shown at a confirmation hearing, said President Donald Trump is "not calling for the Fed to lower interest rates." AFP President Donald Trump is focused on 10-year Treasury yields to bring down borrowing costs rather than the Federal Reserve actions on short-term interest rates,