WASHINGTON (NEXSTAR) -- New interest rates are out, and the Federal Reserve decided not to cut interest rates despite public pressure from President Donald Trump.

This marks the fifth straight time the Fed has decided not to change interest rates.

At Wednesday’s highly anticipated July meeting, the Central Bank announced it's holding rates steady at roughly 4.25%.

"Today, we decided to leave our policy rate where it's been," Federal Reserve Chairman, Jerome Powell said.

Powell argues the Central Bank must take a cautious approach to ensure future tariffs don't send inflation back surging.

“We’re still a ways away from seeing where things settle down,” Powell said.

Powell's strategy, however, remains a thorn in the president's side.

“I call him ‘too late,’” President Trump said. “He’

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