Former Fed president Bill Dudley warned that the central bank risks mistiming interest rate cuts if the economy stumbles into a recession.

President Donald Trump has relentlessly attacked Fed Chairman Jerome Powell since he retook office, most recently calling him a “fool” Thursday morning after the Fed chose to hold interest rates steady the day prior.

The central bank held steady on rates, keeping them at a range of 4.25% to 4.5%, but highlighted rising inflation risk.

Federal Reserve Chair Jerome Powell reiterated the need for a wait-and-see approach during a press conference following the committee's policy announcement.

Wall Street bounced between small gains and losses as markets await retail sector data and hints from the Fed.

Fed Chair Jerome Powell kicked off his post-meeting press conference by saying the central bank remains “squarely focused” on its dual mandate, and the Fed held rates steady because “the risks of higher unemployment and higher inflation have risen.

A prominent House Republican who is in charge of a monetary policy task force told Yahoo Finance he still supports Jerome Powell as Federal Reserve chair on a day when President Trump once again criticized the central bank boss for not lowering interest rates.