A desire for low rates confronts a very different economic backdrop—with higher price pressures—from his first term.

The Federal Reserve kicked off its second Trump era right where it left off: Doing exactly what it wanted to do, ignoring President Donald Trump’s demands that it lower rates.

Federal Reserve Gov. Michelle Bowman is widely seen as the president's most likely choice for vice chair for supervision, a position soon to be vacated by Michael Barr. But while Bowman is the administration's most straightforward option,

Bowman said on Friday she expects declining inflation to allow further interest rate cuts this year, but feels many factors could slow the process.

Trump said Powell and the Fed "failed to stop the problem they created with inflation" in a post on Truth Social on Wednesday.

The Federal Reserve kept its key interest rate unchanged as officials grappled with uncertainty caused by inflation and President Trump's plans.

Consumers and traders are waiting to learn if the Fed’s pause is a one-meeting hold or the start of a longer stretch.

An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts.

The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them. The announcement put the central bank on a potential collision course with Trump,

Trump's proposed tariffs against Mexico, Canada and China have already affected the economy before a single cent of goods have been taxed.