June 14, 2026
Fed Chair Powell says the central bank is focused on controlling inflation - not on government borrowing or home mortgage costs that Trump wants lowered
Trump criticised the cost of renovations at the Fed after calling Powell a ‘numbskull’ earlier this week for failing to heed his demand for a large reduction in borrowing costs
The Fed's wait-and-see approach on interest rates has angered Trump
Trump says rates should be falling in US as in Europe, as the Fed is keeping rates on hold, and is concerned that tariffs will drive up inflation
With overall sentiment sliding due to policy "turmoil," prices are projected to rise faster than expected at least in part and perhaps largely because of Trump's plans to levy duties on imports
The central bank kept its benchmark overnight interest rate unchanged in the 4.25%-4.50% range
