An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts.

Fed Chair Jerome Powell said Wednesday that he continues to look at the overall progress that inflation has made in moving back toward the central bank’s 2% target. While the bank’s latest statement did leave out a December reference to strides made in the fight against inflation,

The Fed said the job market is “solid,” and noted that the unemployment rate “has stabilized at a low level in recent months.”

Powell made clear that Fed policymakers are in no rush to reduce interest rates further, after lowering borrowing costs by a full percentage point in the final months of 2024. Whe

The president’s post suggests that he intends to continue his criticism of Fed Chair Jerome Powell on social media, which became a regular feature during his first term.

Fed Chair Jerome Powell said “we do not need to be in a hurry to adjust our policy stance” and monetary policy is “well positioned” for the challenges at hand.

Tedeschi's chart shows that when taken literally, Trump's campaign proposals could increase the average effective tariff rate anywhere from seven to 27 percentage points. The high end of the estimate would bring the average effective tariff rate to a level not seen since 1900.

Trump said Powell and the Fed "failed to stop the problem they created with inflation" in a post on Truth Social on Wednesday.

The numbers: Wages and benefits for American workers accelerated in the fourth quarter. The employment-cost index (ECI) increased 0.9% from October to December, the government said Friday. That's up slightly from a 0.8% gain in the prior quarter, which was the slowest quarterly increase in three years.

President Trump has a lot to say about FOMC chairman Jerome Powell—and yet it seems he won't take his fight directly to the Fed.