After the widespread uncertainty caused by the tariff policy, Powell said the Fed decided the "prudent thing to do is to wait."

The Federal Reserve would have cut interest rates by now if President Donald Trump's tariffs weren't so big, central bank chief Jerome Powell said Tuesday

Federal Reserve Chair Jerome Powell is sticking to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump’s tariffs effect the economy, defying the steady stream of criticism from the White House,