Fed Chair Jerome Powell said the economy is solid — and that it's also too early to tell how tariffs will affect it.

This was the fifth consecutive meeting at which the Federal Open Markets Committee (FOMC) kept its benchmark Federal Funds rate unchanged at 4.25-4.5%.

The central bank has defied Trump’s public criticism for months. The Fed has held interest rates steady for seven consecutive months, taking a wait-and-see approach as it voices concern about a possible burst of inflation as a result of Trump's tariff policy.