President Donald Trump called on the Federal Reserve to lower interest rates, saying consumers "have been waiting for years to see pricing come down."

The Fed's dual mandate of low inflation and employment is more at odds than usual, and risks of tariffs fueling inflation as job growth slows have left Fed Chairman Jerome Powell on the sidelines waiting for clarity.

The central bank is bracing for President Trump’s tariffs to dent growth while stoking inflation, keeping interest rate cuts at bay for now.