U.S. President Donald Trump on Wednesday knocked Federal Reserve Chair Jerome Powell for what he expected would be a decision not to lower interest rates and said the man he put in the role during his last term had done a poor job.

Inflation remains somewhat elevated." The Federal Reserve last cut interest rates in December. Despite increasing pressure from President Donald Trump, Chair Jerome Powell has refused to lower them further.

President Trump has increasingly pointed to rate cuts by other central banks as he pressures Jerome H. Powell, the Fed chair, to reduce borrowing costs.