The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs.

Russell T. Vought, the head of the Office of Management and Budget, said he and other administration officials wanted access to the Fed’s building in Washington.

With demolishing the independence of the Federal Reserve in his sights, Trump’s almost complete dominance of the governance of the United States will be completeTrump’s campaign against the independent Federal Reserve (the US central bank) took an obscene turn earlier in the week with the personal attacks against chairman Jerome Powell taking on a new twist.

Federal Reserve Gov. Christopher Waller on Thursday called for the central bank to cut interest rates in July. Waller said

If President Donald Trump takes the unprecedented step of trying to fire Fed Chairman Jerome Powell, the effort would roil markets and likely be met with pushback in the courts. Trump and the Trump administration have increasingly turned their fire on Powell and his leadership of the central bank.

President Donald Trump on Wednesday appeared to escalate his attacks on Federal Reserve Chair Jerome Powell, a step investor call dangerous.