The biggest question facing the Federal Reserve as it meets this week is how to grapple with a tariff-related 'tug-of-war' between sticky inflation and a slowing economy — as well as a president who clearly wants lower rates.

U.S. President Donald Trump said he will not remove Jerome Powell as Federal Reserve Board chairman before his term ends in May 2026 while describing the central banker as "a total stiff" and repeating calls for the Fed to lower interest rates.

President Trump said Sunday he would not fire Federal Reserve chair Jerome Powell before the central bank leader's term ends over the next year. Why it matters: An earlier suggestion that Trump would attempt to remove Powell — a legally dubious move — roiled financial markets,