Monetary policy

The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her "if she doesn't resign" over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.

Federal Reserve Chair Jerome Powell said Friday that while the central bank must "proceed carefully" in considering interest rate adjustments in the coming months, recent softness in employment "may warrant adjusting our policy stance."

KC Mathews, executive vice president and chief market strategist at Commerce Trust breaks down the FOMC meeting.

Federal Reserve Bank of Chicago President Austan Goolsbee said the Fed is not tied to Wall Street or political interests and that independence is necessary to prevent inflation.

Core CPI, which excludes food and energy, rose to 3.1%, up from 2.9% in June.

Federal Reserve Vice Chair for Supervision Michelle Bowman said she foresees three interest rate cuts for this year, a view bolstered by the latest employment data.

President Trump said Thursday that he will nominate Stephen Miran, who currently serves as chair of the White House Council of Economic Advisers, as the next member of the Federal Reserve Board of Governors. Miran is a key architect of President Donald Trump's tariff policy.

Federal Reserve Board member Lisa Cook said artificial intelligence will be transformative, but cautioned government officials not to assume that gain in AI technology will offset inflationary pressure elsewhere arising in the economy.

The Federal Reserve governor's term was set to expire in January and President Donald Trump has made it clear that she would not be reappointed. The vacancy will give Trump an opportunity to appoint someone new to the central bank's board.

Federal Reserve Chair Jerome Powell said during his regular press conference Wednesday that the process of determining tariff-related price increases was always going to be slow, but it has taken longer than he expected.

The Federal Reserve's monetary policy committee is expected to leave interest rates unchanged again Wednesday amid reports of renewed economic growth in the second quarter and despite ramped up pressure from the White House to cut rates.

President Trump and Senate Banking Committee Chair Tim Scott, R-S.C., visited the Federal Reserve Board headquarters Thursday afternoon to inspect ongoing renovations whose cost overruns have heightened scrutiny of Fed chair Jerome Powell.

Monetary policymakers have held off on lower interest rates for months, citing the risk of tariff-induced inflation. Several now say this week's CPI and PPI reports confirmed their suspicions.

Lorie Logan, president of the Federal Reserve Bank of Dallas, said in a speech Wednesday that she is content to leave interest rates where they are, adding that she would want to see inflation fall to 2% before considering cuts.

President Trump and his lieutenants have been bullying Federal Reserve Chair Jerome Powell for months over the Fed's reluctance to lower interest rates. But even if that campaign is successful, the president may not really get what he wants.

The Bureau of Labor Statistics said the consumer price index rose to 0.3% in June to an annualized rate of 2.7%, making the case to cut interest rates more difficult for the Federal Reserve to justify at its next meeting later this month.

Federal Reserve Gov. Christopher Waller said that criticisms of the Fed's balance sheet and calls to return to a scarce reserves system are misinformed, saying that much of the central bank's balance sheet is the result of activities outside the Fed's control.

The labor market was a bigger point of discussion in the Federal Reserve's most recent monetary policy-setting meeting, but officials were divided about the path of future actions.

The markets are waiting for the Federal Open Market Committee to make its next move.

New research from the Federal Reserve Banks of New York and San Francisco says markets put the odds of zero interest rates lower today than in the recent past, but economic uncertainty raises the potential for drastic cuts in the "medium to long term."