The central bank has defied Trump's public criticism for months, adopting a wait-and-see approach as central bankers observe the effects of tariffs.

The Fed’s monetary policy committee kept its benchmark rate steady at between 4.25 percent and 4.5 percent, as analysts and investors expected.

President Donald Trump may see lower Federal Reserve interest rates as a fix for two politically potent problems, the cost of servicing $36 trillion in government debt and the high cost of home ownership,

Trump's executive order late Thursday laid out rates to be applied against nearly 70 countries, ranging from 10% to 41% in what a Trump administration official hailed as the beginning of a "new system of trade." The new duties are now set to go into effect on Aug. 7.

On Thursday, Donald Trump announced sweeping new tariffs against U.S. trading partners that will go into effect next week. The announcement came on the same day that an appeals court grappled with the question of whether Trump’s tariffs are even legal.

Friday, a day after President Donald Trump signed an executive order slapping new tariffs on dozens of countries. A weak jobs report worsened investor jitters, revealing a slowdown of hiring over recent months as Trump's previous tariffs took hold.