Nothing tariffs are starting to push up prices, Powell said the Fed is already “looking through” goods inflation by not raising rates. That “could be pushback to those who might want lower rates now," economist Michael Feroli of JP Morgan Chase wrote to clients.

The Federal Reserve is leaving its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut.

U.S. President Donald Trump again criticised Federal Reserve Chairman Jerome Powell on Thursday, a day after the U.S. central bank held interest rates steady in a 9-2 vote. "Jerome “Too Late” Powell has done it again!