U.S. Federal Reserve Chair Jerome Powell echoed recent sentiments to a congressional panel following the central bank's decision to maintain its key interest rate despite public pressure from the White House.

White House officials have raised the heat on Powell to lower rates. Now he's faced with two key Fed officials who have said they could favor a cut in July.

The cautious tones from Powell could further antagonize President Donald Trump, who has ramped up his long-standing criticism of Powell.