Federal Reserve officials held interest rates steady, pausing to assess the inflation outlook following a string of rate reductions last year.

The Federal Reserve left interest rates unchanged on Wednesday, amid a cloudy economic outlook, partly because some of President Trump’s policies could stymie the fight against inflation. Wednesday’s pause comes after the central bank cut interest rates by a full percentage point between September and December of last year.

Chairman Jerome Powell says policy decisions are based on economic data, not the shifting winds of political discourse.