Federal Reserve officials are split on whether to slash interest rates as President Donald Trump favors rate cuts based on his claim that the nation’s economy is thriving.

Azoria Capital sued Federal Reserve Chairman Jerome Powell to force the Federal Open Market Committee to open its interest rate meetings to the public.

A federal judge on Monday denied a request by a Donald Trump ally to force the Federal Reserve committee responsible for directing US monetary policy to make its meetings publicly accessible and accused an investment firm of wasting the court’s time.

Federal Reserve governor Adriana Kugler will not attend this week's meeting of the central bank's interest-rate committee, a Fed spokesperson said. Kugler will be absent due to a personal matter, the spokesperson said,

The Agency founder and CEO Mauricio Umansky discusses record home prices in the United States and why the Federal Reserve should cut interest rates on ‘America Reports.’

The consensus view is that the Fed will hold interest rates steady in its July meeting; however, there seems to be a push for a signal cut of .25% among economists, and even some Fed board members. We will be watching whether the July hold is unanimous, or if one or two members dissent.

The conclusion of the Federal Reserve’s policy meeting on Wednesday could produce a historic dissent. If so, investors should be prepared to do, well, nothing, according to one Wall Street veteran.

The Federal Open Market Committee will meet on Tuesday and Wednesday before announcing the federal-funds rate target range, which has sat at 4.25% to 4.5% since December. The decision will go public at 2 p.m. Eastern time on Wednesday, and Fed Chair Jerome Powell will address the media at 2:30 p.m.