Federal Reserve Chair Jerome Powell said interest rates are in the right place to manage continued uncertainty around tariffs and inflation, tempering expectations for a rate cut in September.

In a post on his Truth Social platform, Trump called Powell 'stubborn' and accused him of failing to act despite low inflation and the need for rate cuts.

The Federal Reserve is leaving its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut.