Trump pushes for lower rates as inflation concerns keep Fed cautious

President Trump pressed the Fed to cut rates, arguing they’re artificially high, while the central bank reiterates its independence amid inflation concerns; markets expect no move in September, but July minutes show inflation could stay elevated and some policymakers hint at higher rates if it doesn’t cool, as the debt nears $40 trillion and inflation runs around 3.4% year over year with a cooling labor market.