A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.

Trump hopes to get lower rates by replacing Fed Chair Jerome Powell with someone who would do what the president wants. But Powell’s term as chair does not end until May 2026. He’s insisted he won’t resign early.

Federal Reserve Governor Chris Waller said on Thursday said he favors cutting the Fed's policy rate in July. He also discussed the Fed's balance sheet and why it should continue to pay interest on bank reserves.

The U.S. economy added 147,000 jobs in June, beating analyst expectations, the Bureau of Labor Statistics reported.

The president hasn’t named a successor to Jerome H. Powell, but his insistence on someone who will lower interest rates has already raised doubts about their credibility.

Minutes from the Fed’s June policy meeting tease at a looming split over whether and when officials will resume rate cuts.

President Trump is putting pressure on Federal Reserve Chairman Jerome Powell to lower interest rates, and has been critical of the Fed's $2.5 billion office renovation.

Key Takeaways The White House lobbed more criticism at Federal Reserve Chair Jerome Powell Thursday, accusing him of mismanaging a renovation of the central bank's headquarters.In recent months, Trump has blasted Powell because the Fed has held its key interest rate steady against the president's repeated demands to lower borrowing costs.