The Federal Reserve kept interest rates unchanged at its latest meeting this week, leaving the benchmark federal funds rate at a range of 4.25% to 4.5%.

President Trump called out Jerome Powell in a Truth Social post for not lowering interest rates this week, continuing his attacks on the Fed chief.

As expected, interest rates didn't budge today. You can blame tariffs. At the conclusion of its May 6-7 meeting today, the Fed voted to hold rates steady for the third consecutive time. Fed Chair Jerome Powell remains steadfast in monitoring labor market conditions and inflation pressures before making any cuts.

Here’s how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.

Fed Chair Jerome Powell announced the decision not to lower interest rates, remaining at 4.25 to 4.5.