The best indicator of monetary policy’s impact on the broader economy is what you see when “looking out the window,” Federal Reserve Chairman Jerome Powell told a room full of reporters following the Federal Open Market Committee’s (FOMC) January 28-29 meeting.

Federal Reserve Chair Jerome Powell said Wednesday he has not spoken to President Donald Trump since last week's remarks by the president when he said he would demand the central bank lower interest rates.

The US president accused Jerome Powell leader of failing to 'stop the problem they created with inflation.' Powell said he would not respond to Trump's comments.

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