The prospect of the Federal Reserve once again setting its short-term interest rate target at near zero levels at some point in coming years remains real despite current relatively high levels of short-term borrowing costs,

Minutes from the Fed’s June policy meeting tease at a looming split over whether and when officials will resume rate cuts.

The economy added 147,000 nonfarm payroll jobs last month, topping the Dow Jones consensus of 110,000, according to the US Bureau of Labor Statistics. The unemployment rate held steady at 4.1%, better than forecasts for a rise to 4.3%.

Fed Governor Christopher Waller and Fed Vice Chair for Supervision Michelle Bowman, both appointed by President Donald Trump during his first term in the White House, have said they'd consider cutting the benchmark policy rate as soon as the central bank's July 29-30 meeting.

The latest round of tariff threats from President Trump could spark fresh concerns about inflation, which might force the Federal Reserve to maintain its wait-and-see posture on interest-rate cuts, sa

"Considerable uncertainty" around timing, size, and duration of tariffs' potential impacts divides Federal Reserve officials.

The labor market was a bigger point of discussion in the Federal Reserve's most recent monetary policy-setting meeting, but officials were divided about the path of future actions.