The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.

New tariffs unveiled by President Trump have further muddied the inflation outlook, Chicago Fed President Austan Goolsbee said, making it more difficult for him to support the rate cuts that the president has pressed for.

Federal Reserve Chair Jay Powell has reiterated that rate decisions will be data-driven — by inflation, and employment.

Fed meeting minutes reveal growing divisions among policymakers, with several officials signaling openness to a rate cut this year amid modest inflation pressures and tariff uncertainties, while others favor maintaining the current stance.

Some investors have staked out positions in futures markets that will profit if interest rates drop immediately after Jerome Powell’s term as chair ends

Federal Reserve officials diverged at their June meeting about how aggressively they would be willing to cut interest rates, split between concerns over tariff-fueled inflation and signs of labor mark

The White House escalated its criticism of Federal Reserve Chair Jerome Powell, accusing him of mismanaging the central banks finances. In a letter posted on social media, Trump administration official and OMB