Federal Reserve officials are determined to hold interest rates steady a little while longer, though an increasingly contentious debate at this week’s policy meeting may bolster expectations for rate cuts in the fall.

President Trump clashed with Federal Reserve Chair Jerome Powell as more lawmakers weigh in on a need for an interest rate cut. CBS News' Kelly O'Grady reports.

Amid all the mounting political pressure on the Federal Reserve to resume cutting interest rates, Chair Jay Powell is already overseeing the loosest financial conditions in the U.S. economy since before the central bank started hiking early in 2022.

President Donald Trump is once again floating the idea of firing Federal Reserve Chairman Jerome Powell, ostensibly in objection to excessively high interest rates. But this debate is not about monetary policy.

When central banks are pressured by politicians into overheating the economy, everyone ends up getting burned.

The Fed does set the rate of interest it pays on reserves, but that’s just one interest rate, and it’s a rate that didn’t exist prior to 2008. Theoretically, the Fed sets this rate to ...

President Donald Trump is scheduled to visit the Federal Reserve on Thursday, a trip that will be closely watched amid ongoing tensions between the White House and Fed leadership.

The Swiss National Bank lowered rates to zero after consumer prices fell last month. Other European central banks are grappling with uncertainty caused by President Trump’s tariffs.