Christopher Waller, a potential contender to be the next chair of the central bank, said the Federal Reserve should not wait for the labor market to weaken to reduce interest rates.

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.

First, consider the case of Richard Nixon and his Fed Chairman, Arthur Burns. At the end of 1969, after he was nominated, but before he took office, Burns was told by Nixon that his predecessor “was always six months too late doing anything.

The yearslong project to spruce up central bank buildings in Washington, D.C., received little attention until recently

US president’s offensive against Jay Powell has prompted swings in the dollar and lifted long-term inflation expectations