President Donald Trump has relentlessly attacked Fed Chairman Jerome Powell since he retook office, most recently calling him a “fool” Thursday morning after the Fed chose to hold interest rates steady the day prior.

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

Fed Chair Jerome Powell kicked off his post-meeting press conference by saying the central bank remains “squarely focused” on its dual mandate, and the Fed held rates steady because “the risks of higher unemployment and higher inflation have risen.

Wall Street bounced between small gains and losses as markets await retail sector data and hints from the Fed.

Fed Chair Jerome Powell acknowledged that the contraction in the U.S. economy in the first quarter was notable, but ultimately didn’t indicate that it was enough of a concern to push policymakers to cut rates.

Earnings: Cisco Systems reports earnings after the bell. Fed Speakers: Governor Christopher Waller and Vice Chair Philip Jefferson are due to speak. Thursday, May 15 Fed Speaker: Chair Jerome Powell is expected to give remarks around 8:40 a.

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.

President Trump repeated his call for the Federal Reserve to cut interest rates after April's inflation report was cooler than expected.