A Trump-appointed Fed official addressed Bank of America clients during the Fed's "quiet period," when officials are barred from discussing monetary policy.
The average price of a gallon of gas has dropped for the third straight week, falling under $4 for the first time in months after the war inflated energy costs.
Nine of 19 officials who participate in Fed policy meetings penciled in at least one interest rate increase by year end, up from zero in March. It was Kevin Warsh's first as Fed chair.