Boston Federal Reserve President Susan Collins said on Tuesday she's in no rush to change the U.S. central bank's benchmark interest rate amid current economic uncertainty, as data suggest that while import tariffs will drive up inflation,

Fed’s Bowman backs July rate cut citing weak inflation and fragile labor market By . Ariel Zilber. ... the Fed must first see how inflation evolves in response to tariffs.

Bowman’s openness to cutting rates soon is joined by that of Fed Governor Christopher Waller, who said in a television interview Friday he’d also consider a rate cut at the July 29-30 meeting.

"As a result, the adverse impact of tariffs on labor market conditions and economic growth may be more limited," Collins explained. The Fed’s benchmark interest rate currently stands in the 4.25%-4.50% range. Most Fed officials and financial markets do not anticipate a rate cut at the upcoming July 29-30 policy meeting.

The odds of a rate cut at the Federal Reserve's next meeting evaporated after a resilient jobs report for June alleviated concerns about a slowing US economy.

If you’ve been putting off a big purchase because you’re waiting for interest rates to drop back down to pandemic-era lows, you might want to reset your expectations. A new study finds that the probability of the Fed dropping rates to zero again is extremely low.

Indeed, the only guaranteed path for Mr. Trump to get lower interest rates is slower inflation or a weaker job market. Right now, the Fed’s preferred inflation gauge is running closer to 3 percent, still higher than its 2 percent target.

Atlanta Federal Reserve President Raphael Bostic warned that effects of President Donald Trump's tariffs could cause prolonged inflation rather than a one-time price spike.