The Globe and Mail reports in its Tuesday, June 24, edition that U.S. Federal Reserve Governor Michelle Bowman suggested that the Fed consider cutting its key interest rate in July, highlighting divisions among officials amid criticism from the White House. An Associated Press dispatch to The Globe reports that Ms. Bowman noted that President Donald Trump's tariffs have not led to the inflation surge many feared, and any future price increases may be one-time events. She said on Monday: "The impact of tariffs on inflation may take longer, be more delayed and have a smaller effect than initially expected. Should inflation pressures remain contained, I would support lowering the policy rate as soon as our next meeting," which is scheduled for July 29-30. Ms. Bowman is the second high-profile official to express support for a potential July cut in as many days. On Friday, Christopher Waller said the Fed should consider cutting borrowing costs next month. Their comments arrived after Fed chair Jerome Powell suggested in a news conference last week that the central bank would monitor the economy over the summer and see how inflation responded to tariffs before deciding whether to reduce borrowing costs.