Federal Reserve officials, including Governor Michelle Bowman and Vice Chair for Supervision Waller, are increasingly suggesting that interest rate cuts could be implemented as soon as July if inflation remains low. This marks a shift as some officials break rank and align with sentiments expressed by former President Trump, raising hopes for a policy change aimed at bolstering the job market amidst cooling inflation. The Fed appears to be split on the timing and necessity of these cuts, with some members advocating for immediate action while others caution against potential inflation risks. Markets have responded positively to these signals, with stocks recovering and bond yields sliding as investors speculate on the likelihood of a rate cut next month.