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

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.

Asked about Trump’s barrage of insults, Powell’s comment that the Fed was focused “100%” on its inflation and jobs target drew applause from the audience at a European