The U.S. central bank’s decision to hold interest rates steady in June was unanimously supported, but officials were starting to splinter over the path forward.

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

WASHINGTON (Reuters) -U.S. President Donald Trump on Wednesday called on the Federal Reserve to lower the federal benchmark interest rate by at least 3 percentage points, renewing his call for the U.S. central bank to lower rates to help reduce the cost to service the nation's debt.

Mr. Pollock is a Senior Fellow at the Mises Institute, the author of 'Finance and Philosophy--Why We’re Always Surprised' and co-author of 'Surprised Again! The Covid Crisis and the New Market Bubble.'

The U.S. economy added 147,000 jobs in June, beating analyst expectations, the Bureau of Labor Statistics reported.

JPMorgan Chase CEO Jamie Dimon said on Thursday he thought the financial market was underestimating the possibility of U.S. interest rates climbing higher, a prospect he described as a "cause for concern".

Federal Reserve Chair Jerome Powell said the central bank would have likely already moved to lower borrowing costs if it weren't for worries that tariffs would drive up inflation.

Trump administration official Bill Pulte released a statement suggesting that Fed Chair Jerome Powell is considering resigning amid mounting pressure on his leadership.

Policy is rightly locked on hold over the near-term in part because the uncertainty surrounding the Trump administration’s tariff regime remains unusually high.