The Federal Reserve kept interest rates unchanged in early May as officials weigh inflation and unemployment risks tied to Trump's tariffs and trade uncertainty.

Officials at the Federal Reserve have adopted a wait-and-see approach to policy moves amid extreme uncertainty about the economic outlook.

Federal Reserve officials agreed earlier this month to hold off on any interest-rate moves while they evaluated the impact of President Trump’s tariffs on inflation, unemployment, and the broader economy.

The Federal Reserve chair said the two discussed "economic developments" but not his expectations for monetary policy at a White House meeting called by the president.