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

President Donald Trump wasted no time criticizing the Federal Reserve after it held interest rates steady Wednesday, posting a message to his social media platform Wednesday afternoon arguing Fed Chair Jerome Powell and the central bank "failed to stop the problem they created" on inflation.

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