Federal Reserve chair Jerome Powell has started his speech at the FOMC press conference following the central bank’s decision to not cut interest rates for the second month in a row, ignoring Trump’s public call for one.

There is tension in the air between the FOMC and the Oval, so many expect the Fed chair to comment on Trump’s persistent interference, but as usual, he’s downplaying it, showing he’s not one bit worried about President Trump.

When asked directly whether he has been in contact with Trump, Powell gave a curt “No.” He also said that he’d never have any comments or response to whatsoever the president has said or will say in the future. According to him, it’s “inappropriate” to comment.

He did say he was committed to making sure the Fed’s policies align with Trump’s executive economic orders, but has nothing more to say beyond that.

As usual, he shared his support for the Fed’s decision to “pause,” saying he believes the economy is still strong and “in a very good place.”

This is a developing story.

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