Former Treasury Secretary Lawrence Summers warned that President Donald Trump’s preference for the Federal Reserve’s interest-rate setting would trigger a surge in expectations for inflation, driving up long-term borrowing costs.

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.

Federal Reserve Chair Jerome Powell defended the bank's $2.5 billion headquarters renovation budget amid feud with Trump over interest rates.

WASHINGTON, July 9 (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.

A Fed policy rate that low is not typically a sign that the United States is the "hottest" country in the world for investment, as Trump has said. It is usually a crisis response to an economy in serious trouble.

Wall Street appears calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell.

San Francisco Federal Reserve President Mary Daly reiterated on Thursday it is "reasonable" to expect two interest rate cuts before the end of this year, particularly with the impact of President Donald Trump's tariffs looking more muted than originally expected.

For about an hour on Wednesday, it seemed as though President Donald Trump would try to fire Federal Reserve Chairman Jerome Powell. Before Trump denied the reports, the yield on the 10-year Treasury note climbed by about 5 basis points,