Federal Reserve governor Michelle Bowman on Monday said the central bank should consider cutting its key interest rate as soon as its next meeting in July, underscoring deep divisions among Fed officials as they endure sharp criticism from the White House.

Interest rates for credit cards to mortgages have jumped since the Fed began fighting inflation in 2022. Here's where experts think rates are headed.

Federal Reserve chair Jay Powell has signalled he would push back on calls for interest rate cuts as soon as July, saying the US economy remains “solid” and the effects of President Donald Trump’s trade war and other policy changes are “uncertain”.