Federal Reserve Chairman Jerome Powell on Tuesday blamed President Donald Trump’s tariffs for not cutting interest rates, but largely withheld further criticism despite facing heated attacks from the president this week.

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

Federal Reserve Chair Jerome Powell on Tuesday stuck 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