Several top Fed officials have voiced support for cutting interest rates in the week after the central bank's latest policy decision.

Trump is urging the Fed to cut rates to save the U.S. government money on its interest payments affixed to the vast national debt. Yet the Fed has long resisted considering the government’s financing costs when making interest rate decisions, preferring instead to focus on the health of the economy and inflation.

U.S. Federal Reserve Chair Jerome Powell told members of Congress on Tuesday that the central bank's current policy approach isn't meant to endorse or criticize the Trump administration's tariff plans,