The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday.

The solid U.S. jobs report for October underscores why the Federal Reserve needs to raise interest rates higher than it had previously forecast to control inflation.

Federal Reserve Governor Lisa Cook says more interest rate increases will be necessary to wrestle inflation under control.

WASHINGTON – Federal Reserve officials expressed concern at their most-recent meeting that the U.S. economy recovery could falter if Congress failed to approve another round of pandemic relief. The Fed on Wednesday released minutes of its most recent meeting, showing that officials believed the economy was growing faster than expected. The September statement was approved on a 10-2 vote, with Dallas Fed President Robert Kaplan dissenting because he favored less precise policy guidance in terms of inflation. Minneapolis Fed President Neel Kashkari dissented because he wanted the Fed to make a bolder statement about the change in operations regarding inflation. The minutes recognized large problems in trying to forecast the future path of the economy.

(AP Photo/Sait Serkan Gurbuz, File)LOS ANGELES Republican candidates eager for a turnaround in heavily Democratic California are spotlighting what they see as a dire threat to families and communities their own states policies. If Joe Biden says hes fighting for the soul of America, Republican candidates say they are fighting for the soul of California. Yet, in an election year that could produce a record Democratic turnout in California, Republican chances of gaining ground are uncertain at best. The California Republican Party was once a national powerhouse, and Orange County was a foundation block in the conservative revolution that sent the former California Gov. The numbers are witnessed at the ballot box: The GOP hasnt won a statewide election since 2006 and George H.W.