Federal Reserve governor Michelle Bowman on Monday said the central bank should consider cutting its key interest rate as soon as its next meeting in July, underscoring deep divisions among Fed officials as they endure sharp criticism from the White House.

Federal Reserve Governor Michelle Bowman has expressed her support for a potential interest rate cut in July, provided that inflation remains subdued.

Trump's top central bank overseer said inflation appears to be on a path back to 2% and expects “only minimal impact” from trade policy.