Investors have started to worry that the U.S. could be headed for a spell of stagflation. The U.K. might already be there.

That usually signals it’s time for the Federal Reserve to cut interest rates. And Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, posited two such moves before the end of the year in a Wednesday TV interview.

Interest rates for credit cards to mortgages have jumped since the Fed began fighting inflation in 2022. Here's where experts think rates are headed.

The position, which comes with a spot on the interest rate-setting Federal Open Market Committee, comes after Fed Gov. Adriana Kugler resigned early.

US President Donald Trump has appointed Council of Economic Advisors chairman Dr Stephen Miran to temporarily fill a vacancy in the Federal Reserve’s Board of Governors. The Thursday appointment also comes amid months of pressure on Fed Chairman Jerome Powell to step down demanding the board stage a coup to lower interest rates.