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.

Federal Reserve governor Michelle Bowman on Monday said the central bank should consider cutting its key interest rate as soon as its next meeting in July, underscoring deep divisions among Fed officials as they endure sharp criticism from the White House.

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Vice Chair for Supervision Michelle Bowman, recently elevated by President Donald Trump as the central bank’s top bank overseer, said Monday the time to cut interest rates appears imminent as she is growing more worried about labor market risks and less concerned high import taxes will cause an ongoing inflation problem.