Fed officials are increasingly split on rate cuts, though UBS's Paul Donovan says their indecision currently amounts to little more than “masterful inactivity.”

As the minutes of the Federal Reserve’s June meeting were released on Wednesday, the word “uncertainty” reigned supreme amid the ongoing tariff turmoil and President Donald Trump‘s call to cut rates by 3 percentage points.

Average CD rates have been declining month-over-month during 2025, according to Federal Reserve data — and yet there are still some good offers hanging on, some of which pay 4% and up. ( You can see some of the best CD rates from our partner Bankrate here.) But what’s next for CD rates? Should you lock in now? Here’s what pros told us.

The USD/CAD pair declines to around 1.3655 during the early Asian session on Friday. The US Dollar (USD) softens against the Canadian Dollar (CAD) amid the prospects for more interest rate cuts by the US Federal Reserve (Fed) this year. Traders will keep an eye on the Canadian employment data for June, which is due later on Friday.

Federal Reserve officials diverged at their June meeting about how aggressively they would be willing to cut interest rates.

Fed governors, including the chair, are nominated by the president and confirmed by the Senate. But members of the FOMC decide who is chair of the rate-setting committee, which is comprised of the seven governors, the New York Fed president, and four other regional Fed presidents who serve on a rotating basis.

The Federal Reserve on Wednesday released the minutes of the Federal Open Market Committee meeting that was held on June 17-18, 2025.The minutes for

Reciprocal' tariffs deadline, Federal Open Market Committee minutes, Amazon Prime Day, earnings from Delta Air Lines, Conagra Brands, and Levi Strauss.

The euro continues to have a quiet week and is drifting for a third consecutive day. In the European session, EUR/USD is trading at 1.1730, up 0.09% on the day.

Treasury yields are barely changed after Wednesday’s more pronounced falls, following the FOMC’s minutes, which showed some officials’ openness to consider rate cuts in July.