President Donald Trump sharply criticized Federal Reserve Chair Jerome Powell after the Fed held interest rates steady. He called Powell “destructive” and “a real dummy," according to CNBC. Trump claimed Powell’s refusal to cut rates costs the U.

Four meetings and six months have elapsed since the Fed last adjusted interest rates. The federal funds rate stands between 4.25% and 4.5%, preserving much of a sharp increase imp

The Fed, helmed by Chair Jerome Powell, is expected to hold rates steady this month despite pressure from President Donald Trump to make cuts.