After three cuts at the end of last year, Federal Reserve officials paused rate moves as they weigh a solid economy and rising inflation risks. Jerome H. Powell, the Fed chair, said the central bank was not on a “pre-set course.

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.

The rate-setting Federal Reserve did not heed Trump’s insistence last week demanding “interest rates drop immediately.”