Trump’s blasting of the Federal Reserve and Jerome Powell came just hours after the announcement that interest rates would stand at 4.25% to 4.5%.

After three cuts at the end of last year, Federal Reserve officials paused rate moves as they weigh a solid economy and rising inflation risks. Jerome H. Powell, the Fed chair, said the central bank was not on a “pre-set course.

The Fed said the job market is “solid,” and noted that the unemployment rate “has stabilized at a low level in recent months.”