Last month, the Federal Open Market Committee (FOMC), a policymaking body at the Fed, projected two additional quarter-point rate cuts over the remainder of the year. By contrast, Trump has called for rate cuts totaling as much as 3 percentage points. Trump has carried out a pressure campaign at the Fed with little precedent.

Trump lambasted Powell this week, calling him “Jerome ‘Too Late’ Powell” in a speech to Asian business leaders .

Interest rates should continue their downward journey, as forecasters expect another rate cut from the Fed on Oct. 29. Are more cuts coming?

Interest rates are responding well to the Fed's rate cuts. Here's what a $100,000 home equity loan costs monthly now.

It's really a different thing,' Jerome Powell told reporters this week. However, the Federal Reserve is closely watching the impact of AI on hiring following high-profile tech layoffs.

The yield on the 10-year Treasury note was rising Thursday to around 4.09%, after on Wednesday posting its biggest jump since July, according to Dow Jones Market Data. That was despite the Fed having just lowered its policy rate by a quarter-percentage point.

The U.S. Federal Reserve's top bank cop, Michelle Bowman, announced plans to reorganize the agency's supervision and regulation division and shrink the unit's staff by roughly 30%, Bloomberg News reported on Thursday.

Gold futures rose modestly on Thursday on possible dip-buying, rebounding after the U.S. Federal Reserve lowered interest rates in line with market expectations but Fed Chair Powell's remarks indicated a December rate cut is "not a foregone decision - far from it.