Inflation has fallen sharply and as a result Fed officials have signaled they will cut rates by as much as a half-percentage point this year. Yet it has picked up a bit in the last two months and many of those policymakers, including Powell, still want to make sure that tariffs aren’t going to lift inflation much higher before they make a move.

President Donald Trump’s attempt to shame Federal Reserve Board of Governors chair Jerome Powell over the cost of a long-running renovation to the central bank’s Washington headquarters went horribly wrong on Thursday when Powell had a ready response for the president’s accusations during a tour of the construction site.

In an unusual visit to the Federal Reserve, President Donald Trump once again said that interest rate cuts were needed and firing Chair Jerome Powell wasn't "necessary."

President Donald Trump has looked to the marble finishes and hefty price tag of the Federal Reserve headquarters to claim grounds to fire Chair Jerome Powell, with whom he has tussled for years over interest rates.

EPSTEIN SUBPOENAS: The House Oversight Committee said it will subpoena the Justice Department to release the Jeffrey Epstein files. Earlier, the committee officially subpoenaed Epstein accomplice Ghislaine Maxwell for a deposition at the Federal Correctional Institution in Tallahassee, Florida, on Aug. 11.