As the Fed prepares for its July policy meeting, markets, households, and politicians await a pivotal interest rate decision with nationwide impact.

While almost no one thinks Donald Trump's verbal attacks on Federal Reserve Chair Jerome Powell are a positive development, they have electrified the debate about whether the U.S. president is right that interest rates are too high.

President Donald Trump met with Federal Reserve Chairman Jerome Powell this week, striking a lighter tone between himself and the Fed following a tour of the central bank’s headquarters. But the Fed holding interest rates steady once again next week could be a blow to that truce.