Federal Reserve policymakers will be debating whether stubborn inflation or slower hiring is the bigger problem for the economy as they prepare for an annual conference in Jackson, Wyoming, next week and a crucial policy meeting in September.

"The hardest thing that the Fed ever has to do is get the timing right at moments of transition,” Goolsbee said on NBC News’ “Here’s the Scoop” podcast.

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Prices could tick higher in 2025 as businesses pass tariff costs on to consumers, Cleveland Fed's Beth Hammack tells CBS News.

Fed minutes are due, and top retailers will report earnings in the coming week. But the main attraction will be Jerome Powell's speech on Friday.

Kansas City Federal Reserve President Jeffrey Schmid said he favors keeping interest rates at current levels to prevent economic growth from reigniting inflation.

Here's what new data from the producer price index says about where inflation is headed, according to economists.

Wholesale prices increased in July at the quickest pace since February, as economists are keeping a sharp eye on inflation data amid President Trump’s trade war. The 3.3-percent yearly increase — which blew past economists’ expectations — puts the Federal Reserve in a tough position,