President Trump said Sunday night that the Federal Reserve was right to keep interest rates unchanged at its policy meeting last week. "I'm not surprised," he told reporters when asked for his reaction to the central bank's decision to hold borrowing costs steady following three consecutive rate cuts at the end of 2024.

It's important to understand that the Fed's decision to pause rate cuts will not directly impact mortgage rates. Mortgage rates are actually driven by a range of factors, including the Fed's rate changes. This week's Fed rate decision does, however, have a big influence on where mortgage rates could head.

The Federal Reserve on Wednesday hit pause on interest rate cuts in its first key decision of President Donald Trump’s second term.

After three successive interest rate cuts, the Federal Reserve on Wednesday made no change in its benchmark lending rate amid new economic uncertainties over the outlook for inflation and President Trump's continued threats of new tariffs and other measures.

The decision reflects a cautious stance as the Fed assesses the direction of inflation and policies President Trump may implement.

Consumers and traders are waiting to learn if the Fed’s pause is a one-meeting hold or the start of a longer stretch.

President Donald Trump commended the Federal Reserve for its decision last week to leave interest rates unchanged. "Holding the rates at this point was the right thing to do," he told reporters. President Donald Trump agreed with the Federal Reserve for its decision last week to leave interest rates unchanged,

The president previously said he would demand immediate rate cuts but now says holding them steady was the right thing to do.