Federal Reserve officials debated whether tariff-driven inflation in the months ahead will be a one-time event or an ongoing problem, according to minutes of their last policy meeting released Wednesday afternoon.

Fed officials are growing more optimistic about the economy, projecting lower inflation than in May, according to the minutes of the Federal Open

Trump hopes to get lower rates by replacing Fed Chair Jerome Powell with someone who would do what the president wants. But Powell’s term as chair does not end until May 2026. He’s insisted he won’t resign early.

Deutsche Bank argues the Fed's path to cutting is only getting more "difficult" because of Trump's changing tariff policies.