That’s when the Federal Reserve Board meets to consider interest rates, a gathering that the White House has been – to put it mildly – strongly trying to influence. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter💰💵 The Trump Administration wants the Fed to slash rates immediately by almost half after May inflation and job rates basically held steady despite fidgety action earlier this year.

The Fed is likely to stick to its "wait-and-see" mantra at its policy meeting on Wednesday, setting it on a collision course with the president.

President Donald Trump cited new inflation data in continuing to pressure Federal Reserve Chair Jerome Powell to lower interest rates, calling him a "numbskull" but adding that he won't seek to remove him.