Noting broad internal support for the decision, Powell said the Fed remains “well-positioned” to assess when or whether another rate cut may be needed. President Donald Trump has excoriated the Fed and Powell for failing to deliver the large rate cuts the president believes are needed to stimulate the economy. The Fed chief on Wednesday declined to comment further on the matter. So far, however, Powell says inflation expectations remain in check, allowing the Fed to watch in particular whether the market remains stable. Interest rate futures moved to price in the next Fed rate cut at the June meeting.