The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.

The White House is criticizing an expensive renovation at Federal Reserve headquarters as President Donald Trump pursues a pressure campaign to lower interest rates.

Vought sent a letter to Powell probing him with questions over the renovation of the Federal Reserve’s headquarters in Washington, D.C.

Republicans believe Powell’s testimony to Congress about an ongoing $2.5 billion DC office renovation may be a way to force him to step aside.

JPMorgan Chase CEO Jamie Dimon said on Thursday he thought the financial market was underestimating the possibility of U.S. interest rates climbing higher, a prospect he described as a "cause for concern".

The U.S. economy added 147,000 jobs in June, beating analyst expectations, the Bureau of Labor Statistics reported.

Trump, who has repeatedly slammed Powell over his unwillingness to slash interest rates, added that his nemesis “should resign immediately” if the investigation proves he misled