Federal Reserve Bank of San Francisco President Mary Daly said the US central bank may hold interest rates longer than anticipated due to inflation risks, but could yet cut later this year.

Donald Trump has attacked the head of the US central bank for not cutting interest rates, stating that Jerome Powell's "termination cannot come fast enough!". The US president took to social media to renew his criticism of Powell ahead of the third interest rate cut this year by European Central Bank (ECB).