Policymakers left their benchmark rate unchanged amid signs that the economy is humming along, defying the president’s tradition-bucking pressure on the central bank.

Fed Chair Jerome Powell said “we do not need to be in a hurry to adjust our policy stance” and monetary policy is “well positioned” for the challenges at hand.

The Federal Reserve left interest rates unchanged Wednesday as it began a new wait-and-see policy stance amid a cloudy economic outlook and uncertainty over whether some of President Donald Trump’s policies could stymie the fight against inflation.