Chairman Jerome Powell said the central bank is in wait-and-see mode amid mostly positive U.S. economic conditions.

Trump over the course of his first term frequently criticized the Fed and Powell for what he claimed to be high interest rates that were dragging down the economy and for not easing policy more aggressively.

Oil prices were little changed in early trading on Thursday, as markets watched for tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude oil to United States.

Oil prices fell about 2% to a two-week low on Monday as news of surging interest in Chinese startup DeepSeek's low-cost artificial intelligence (AI) model prompted concerns over energy demand to power data centers.

The president says he wants Opec and Saudi Arabia to bring down the price of oil which he says is fuelling the Russia-Ukraine war.

Oil prices stabilized in Asian trade on Wednesday, supported by a smaller-than-expected rise in U.S. crude inventories. The American Petroleum Institute (API) reported a 2.86 million-barrel build for the week

This uncertain outlook in oil markets could pose a challenge to Canada's economic stability, given its heavy reliance on oil exports. Falling crude prices threaten to widen Canada's trade deficit, which could weigh heavily on the Canadian dollar, already hovering at multi-year lows.

The Federal Reserve kept its key interest rate unchanged as officials grappled with uncertainty caused by inflation and President Trump's plans.

In an address to the World Economic Forum in Switzerland, delivered via video link Thursday, President Donald Trump revisited his displeasure with the policy direction of the U.S. Federal Reserve that surfaced during his first term in spite of having appointed the leader of the monetary body.

The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them. The announcement put the central bank on a potential collision course with Trump,

It takes time for the Fed’s decisions to filter through the economy — and then even more time for consumers to see the difference.