The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.

Federal Reserve Chair Jerome Powell on Friday pointed to a possible interest rate cut at the U.S. central bank's meeting next month, but stopped short of committing to it, in remarks acknowledging both the growing risks to the job market and ongoing threat of higher inflation.

So many Federal Reserve officials have said they are waiting for data over the next few weeks before deciding on a September rate cut that it doesn't leave Fed Chair Jerome Powell much room to clearly signal a rate cut,

Almost all” officials backed July’s interest-rate decision, even though two governors backed a rate cut, according to a meeting summary.

Not even 48 hours after the conclusion of last month's meeting, data from the Labor Department appeared to validate the concerns of Bowman and Waller when it showed fewer jobs than expected were created in July.

While Trump frames the issue as consumer pain, Wharton’s Joao Gomes told Fortune that cheaper borrowing would also ease interest payments on the government’s $37 trillion debt burden—likely a central motivation.

"HELOC interest rates are generally structured as prime plus a margin," Debbie Calixto, sales manager at mortgage lender loanDepot, says. The federal funds rate influences the prime rate, while the margin reflects an additional percentage based on your credit score and loan details.

Federal Reserve Chair Jerome Powell will speak Friday during an annual economic policy gathering to give his outlook on the economy. It’s a time of high uncertainty with inflation still