Rising prices across an array of goods from coffee to audio equipment to home furnishings pulled inflation higher.

J.P. Morgan warned in a note that Trump's pressure on the Federal Reserve and threats to fire Chair Powell could undercut central bank independence and increase inflation risks.

The inflation rate rose in May and June. Here's why opening a $10,000 short-term CD in response makes sense now.

Federal Reserve governor Adriana Kugler said the Fed should hold interest rates steady for a while to come, because new trade barriers are likely to spark more inflation in the months ahead. Speaking at a housing conference in Washington,

Mortgage rates rose this week, but steady inflation data suggests a more stable outlook. Buyers may benefit from clearer signals in the months ahead.

What is clear is that the current 4.33% median Fed funds target rate remains well above the inflation trend. Even after the acceleration in consumer prices in June, the policy rate is roughly 1.4 percentage points above headline CPI’s one-year change – close to the biggest gap post-pandemic.

The central bank is poised to hold interest rates steady this month, but there could be a path to cut as early as September.

The president is heaping criticism on Fed Chairman Jerome Powell as markets await the latest inflation numbers.

With June's inflation reading coming in hotter than the month prior, the Fed is under renewed pressure to maintain its current target range for the federal funds rate. Analysts now see little chance of a rate cut in the near term. That means HELOC borrowers are unlikely to see significant rate drops anytime soon.