The Federal Reserve is set to raise interest rates by 25 basis points at its September FOMC meeting, clashing with Trump's demand for cuts to 1%.

The Fed faces a September rate hike decision based on PCE inflation data that will be revised just two weeks later, raising credibility concerns.

The Federal Reserve is set to raise interest rates by 25 basis points at its September FOMC meeting, clashing with Trump's demand for cuts to 1%.