Here’s what the Federal Reserve chair really thinks about the economy

The Federal Reserve on Wednesday cut interest rates for the third time since July, but Chairman Jerome Powell signaled that it is done reducing borrowing costs for now. That’s bad news for President Donald Trump, who has loudly called for rates to drop to zero — or even lower — to boost the economy as he heads into his reelection campaign.

But to listen to Powell at his news conference Wednesday, you might not know the Fed is pausing its campaign of rate cuts — or what exactly he thinks about the economy, the central bank’s future actions or the president. Unlike his chief antagonist, Trump, Powell often uses vague language, steeped in jargon, to convey a general message, knowing that whatever he says can spark strong reactions from financial markets.