The Fed is prepared to hold interest rates steady as officials “wait to learn more about the likely course of the economy.” That was the message from Chair Powell in prepared testimony to Congress on Tuesday morning.

Federal Reserve Chair Jerome Powell is standing by his wait-and-see message on interest rates despite Trump's pressure and Israel-Iran ceasefire deal.

The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell says, a stance directly at odds with President Donald Trump’s calls for immediate cuts.