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 Federal Reserve paused its interest rate cuts at its January meeting, citing unclear inflation and policy outlooks.

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.