Federal Reserve Bank of St. Louis President Alberto Musalem says officials should hold off from lowering interest rates further at this time to prevent stoking inflationary pressures. He speaks at the annual Arkansas Business Forecast Luncheon in Rogers, Arkansas. ...

Key Takeaways President Donald Trump's effort to remove a Federal Reserve governor faced scrutiny on Wednesday when Supreme Court justices questioned his authority to fire Governor Lisa Cook. What This Means For The Economy Should the Supreme Court rule in favor of Cook, it would bolster the Fed's ability to resist pressure from the White House to sharply lower interest rates. Kavanaugh, who Trump appointed during his first term, said allowing the firing could "weaken if not shatter" the Fed's independence. ...