Under normal circumstances, a pair of dissents in favor of a rate cut would be taken as a sign the Fed is taking a dovish turn, Tom Essaye, editor of Sevens Report Research, wrote in a Tuesday note. It would be signal that policymakers are moving in favor of easing, making a reduction at the next meeting a more likely event.

President Donald Trump visited the Federal Reserve on Thursday, repeating calls for lower interest rates while standing alongside Fed Chair Jerome Powell. Even after reiterating his frustration with the central bank, Trump called the notion of firing Powell a "big move" that would not be "necessary."

A Trump-Powell clash could shake up interest rates, inflation and your summer spending. Here are 3 ways it might hit your wallet.

When the Fed cut short rates in the fall, long-bond yields spiked.

For the past several months, the average 30-year fixed mortgage rate has sat between 6.5% and 7%. Prospective homebuyers shouldn't hold their breath for that to change anytime soon. On July 30, the Federal Reserve is expected to keep borrowing rates the same at its fifth monetary policy meeting this year.

Commerce Secretary Howard Lutnick discusses how President Donald Trump and Federal Reserve Chair Jerome Powell’s sparred over renovation costs for the ‘Fed Mahal’ on ‘The Ingraham Angle.’