Trump has been pressuring the Fed to lower interest rates as a way to save financing costs on the nation’s ballooning national debt.

Is the Federal Reserve suddenly open to cutting U.S. interest rates as early as July? That’s what Wall Street investors want to know when Fed Chair Jerome Powell testifies before Congress this week.

A top Federal Reserve official who resisted an aggressive cut last year said she is open to easing interest rates as soon as next month, in a sign support is building among policymakers for a looser monetary stance.