Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.

Brian Mulberry, senior portfolio manager at Zacks Investment Management, noted that Powell’s stance seemed more aligned with that of Fed Governor Christopher Waller, who dissented from the Federal Open Market Committee's “wait-and-see” approach to holding rates steady last month.

The administration’s effort to oust a Fed governor as part of a pressure campaign for lower borrowing costs created an inescapable distraction at this year’s Jackson Hole conference.

Bill Pulte, the director of the Federal Housing Finance Agency, has accused Fed governor Lisa Cook of mortgage fraud again. Shortly after 9:30 a.m. on Friday, the Trump appointee posted what he described as “new evidence in the Cook matter” on his X account.

Housing regulator Bill Pulte doubled down on his attacks on Federal Reserve governor Lisa Cook on Friday, alleging to have more proof the top official committed mortgage fraud. Why it matters: The Trump administration is attempting to build a criminal case against Cook,