Inflation picked up in June, as measured by the Federal Reserve's preferred gauge, reflecting the continued price pressures that make the central bank [cautious about cutting interest rates](

President Donald Trump on Friday fired a top Labor Department official on the heels of a market-shocking weak scorecard of the U.S. job market, accusing her without evidence of manipulating the figures and adding to already growing concerns about the quality of economic data published by the federal government.

President Donald Trump got some bad economic news Friday, and responded by shooting the messenger. Trump fired the head of the Bureau of Labor Statistics, hours after it sent markets tumbling with a report that showed a dramatic slowdown in US hiring.

The central bank this week kept interest rates steady for a fifth-straight meeting, prompting the first double dissent from members of the powerful Board of Governors since 1993.

President Trump called on the Federal Reserve board to 'assume control' if Chair Jerome Powell does not lower interest rates, escalating his ongoing feud with the central bank’s head.

Americans shopping for a mortgage may want to hold tight for now. At its July 30 meeting, the Federal Reserve did not deliver a rate cut. The majority of members voted to leave the federal funds rate unchanged at 4.