The Federal Reserve need not cut interest rates with companies planning to raise prices later this year in response to higher import taxes and with the job market still stable, Atlanta Fed President Raphael Bostic told Reuters.

The Fed chair is set to testify Tuesday before the House Financial Services Committee. The hearings follow an emerging rift within the Fed on rate cuts and sharp criticism from Trump.

The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell says, a stance directly at odds with President Do