Jerome Powell’s authority at the Federal Reserve keeps chipping at the edges.

Federal Reserve Chair Jerome Powell gave little indication on Wednesday of bowing anytime soon to President Donald Trump's frequent demands that he cut interest rates, even as signs of dissent emerged on the Fed's governing board.

Bank of America indicated in a note that Powell would be in “no hurry” to cut rates in June, though disagreements among Fed staff “may start a trend of more frequent dissents” and a “more divided Fed may raise risks of a less consensus and more contentious institution.”