The Federal Reserve faces intense political pressure from President Trump to cut interest rates. This situation challenges the central bank's independence and its ability to balance inflation risks with economic growth concerns.

Tariffs haven’t had the explosive inflationary impacts as predicted, Michelle Bowman says, adding that the labor market is holding steady.

Federal Reserve governor Michelle Bowman on Monday said the central bank should consider cutting its key interest rate as soon as its next meeting in July, underscoring deep divisions among Fed offici