Chicago Federal Reserve president Austan Goolsbee on Friday expressed support for Jerome Powell and central bank independence when asked about pressure being applied by President Trump, saying the Fed chair is a “totally honorable guy.

President Donald Trump has frequently voiced dissatisfaction with the Fed’s “wait-and-see" approach to lowering interest rates under Powell.

Markets this week focus on Powell’s speech and earnings from Coca-Cola and GM, with Alphabet, Tesla, and key PMI data due later this week.

Tariff onslaught likely to force further rate cuts in coming months by most of the world's central banks. Read more at straitstimes.com. Read more at straitstimes.com.

Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures.

Some investors have staked out positions in futures markets that will profit if interest rates drop immediately after Jerome Powell’s term as chair ends