Federal Reserve Chair Jerome Powell said Wednesday he has not spoken to President Donald Trump since last week's remarks by the president when he said he would demand the central bank lower interest rates.

Trump over the course of his first term frequently criticized the Fed and Powell for what he claimed to be high interest rates that were dragging down the economy and for not easing policy more aggressively.

The best indicator of monetary policy’s impact on the broader economy is what you see when “looking out the window,” Federal Reserve Chairman Jerome Powell told a room full of reporters following the Federal Open Market Committee’s (FOMC) January 28-29 meeting.