Chair Jerome Powell said the Federal Reserve’s ability to set interest rates free of political interference is necessary for it to make decisions to serve “all Americans” rather than a political party or political outcome.

A top Federal Reserve official says he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view.

Hiring by America’s employers picked up a bit in August from July’s tepid pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy.

After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high.

Several Federal Reserve policymakers are warning against cutting U.S. interest rates too soon or by too much in the wake of recent data showing inflation stayed unexpectedly high in January.

Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said.

A key Federal Reserve official raised the possibility that the Fed could decide to cut its benchmark interest rate as early as spring if inflation keeps declining steadily.

A senior Federal Reserve official said Friday that there has been little progress on inflation for more than a year and that more interest rate hikes are needed to get prices under control.

Stocks on Wall Street dipped as worries about interest rates offset an encouraging start to earnings reporting season for big U.S. companies.

A run of strong economic data and signs that inflation remains stubbornly high could lead the Federal Reserve to raise its benchmark rate higher in the coming months than it has previously forecast, several Fed officials say.

Christopher Waller, a key Federal Reserve official, added his voice to a rising number of Fed officials who have suggested that the central bank will likely slow the pace of its interest rate hikes beginning in December.

Stocks fell on Wall Street, giving back some of their huge gains made last week on hopes the worst of the nation’s inflation may finally have passed.

Christopher Waller, a member of the Federal Reserve’s Board of Governors, said Thursday that he would be open to supporting a huge 1 percentage point increase in the Fed’s key short-term interest rate later this month if upcoming economic data points to robust consumer spending.

Federal Reserve Governor Christopher Waller says he is willing to support a half-point interest rate hike at the central bank’s next meeting in March.

WASHINGTON – The Senate on Thursday narrowly confirmed the nomination of Christopher Waller for the Federal Reserve's Board of Governors, placing another of President Donald Trump's picks on the Fed's influential board after a string of high-profile rejections. Waller had won some Democratic votes when the Senate Banking Committee approved his nomination in July. And some worried that Waller would agree with the Fed's recent moves to loosen regulations on large banks. With Waller's confirmation by the Senate, four of the Fed's six governors have now been chosen by Trump. Trump’s two previous picks for the Fed's board, Stephen Moore and Herman Cain, ran into so much opposition that they withdrew from consideration before their nominations came before the Senate.

A trader signals an offer in the S&P 500 stock index futures pit at the Chicago Mercantile Exchange. (CNN) - The S&P 500 closed at an all-time high on Tuesday, and it looks like the index could climb even higher in Wednesday's shortened trading session. At Tuesday's record close, the index stood at 2973 points, having surpassed a high set on Monday. A global shift towards looser monetary policy is also helping stocks, as lower interest rates make it cheaper for companies to incur debt. The president has long been critical of the Fed and its Chairman Jerome Powell, saying that lower interest rates would help boost the economy.