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

President Trump and his allies have accused the Federal Reserve chair, Jerome Powell, of misleading Congress in what some legal scholars worry is a prelude to seeking his removal.

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

Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.

The president hasn’t named a successor to Jerome H. Powell, but his insistence on someone who will lower interest rates has already raised doubts about their credibility.

While generally saying the labor market remains solid and inflation elevated but showing progress toward the Fed’s 2% annual target, the minutes reflect a mixed assessment of whether the tariffs will spur inflation or be more of a one-time hit that will not lead to higher long-term price increases.

The latest round of tariff threats from President Trump could spark fresh concerns about inflation, which might force the Federal Reserve to maintain its wait-and-see posture on interest-rate cuts, sa

U.S. President Donald Trump's fresh tariff announcements make it "messy" to interpret the state of the economy, Chicago Federal Reserve Bank President Austan Goolsbee said, adding that he is hearing a lot of anxiety from business contacts about coming inflation that is not yet obvious in the data.

The outstanding balance of CRE loans is growing, highlighting continued liquidity in the CRE debt markets. Read more here.