Key Takeaways Inflation rose in June, moving further from the Federal Reserve's goal of 2% each year.This flare of inflation will likely discourage the Fed from cutting its influential interest rate later this month.

WASHINGTON (TNND) — President Donald Trump is once again putting public pressure on Federal Reserve Chair Jerome Powell, calling for interest rate cuts amid signs of a cooling labor market. But while rate cuts have been projected for months, the Fed hasn’t moved since December of 2024, and Powell doesn’t seem ready to cave just yet.

Federal Reserve Chair Jerome Powell on July 1 told a global audience of world bankers, economists, and academics what could prompt a long-awaited U.S. interest rate cut later this month. 💵💰 Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵+