Trump: Rates are at least 3 points too high | Forexlive

The comments are directed at Fed chair Powell. However, the other Fed members are listening as well. It is a decision by committee and if he starts to resonate with other members, the bias can shift.

Nevertheless much will we depend on the numbers for inflation. Powell has said that he expects inflation to increase in June, July and August. The June numbers will start to be released later this month. July CPI will be released on July 15 while PPI will be released on July 16.