Key Takeaways Officials at the Federal Reserve discussed the possibility of cutting the central bank's key interest rate as soon as June if the economy takes a turn for the worse.The Fed is currently in a holding pattern,

President Donald Trump is badgering the Federal Reserve to cut interest rates, but even if the Fed gave in to the pressure, it wouldn’t necessarily lead to lower borrowing costs for consumers.

A rate cut at either the Federal Reserve’s May or June meeting seems more unlikely Thursday after the most prominent dovish member of the U.S. central bank suggested he was in no hurry to move.