Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump's tariffs effect the economy,

Powell, who was nominated by Trump to lead the Fed during his first administration, has been facing pressure from President to vacate his position

Donald Trump, in a social-media post, said Fed chairman Jerome Powell should “resign immediately.” It was an escalation of his public complaints about Powell, who Trump believes is keeping interest rates high for no reason.