Faced with tariffs and other geopolitical unknowns, the European Central Bank (ECB) on Thursday adopted a "wait-and-see" approach to interest rates.

That's the same action the Federal Reserve has been undertaking, leaving President Donald Trump infuriated over the lack of U.S. rate cuts this year.

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ECB President Christine Lagarde said the central bank held interest rates steady despite describing the economy as being in "a good place" and as "resilient.''

Inflation is "more uncertain than usual due to trade tensions,'' Lagarde said at a press conference following the ECB meeting.

Related: Former Fed Chair sends stern message on economy, Fed

Those trade tensions are also what some Fed watchers say will prompt the Feder

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