Supporters of the North London outfit have grown frustrated in recent times at the manager's failure to strengthen the squad.
Despite splashing out £30m on Barcelona forward Alexis Sanchez this summer, Wenger yesterday acknowledged that he needs to recruit at least one more defender, having fallen short of options at the back.
Asked whether funds would be made readily available in January, Keswick made it perfectly clear that the board fully backs the decisions made by the Gunners boss.
"I don't think that my wish or intention to double guess what Arsene Wenger wants to do - as you know, your board backs him 100 per cent," he is quoted as saying by BT Sport. "If he has a plan, we back him, if he doesn't have a plan, we keep quiet.
"So don't let's be in a muddle about who calls the shots about football at the Arsenal Football Club. It is not the chairman, it is not the fans, it is Mr Arsene Wenger."