The Federal Reserve is set to announce its latest adjustment of interest rates on Wednesday, potentially slashing borrowing costs for the third time this year in an effort to boost sluggish hiring .

Top officials at the Federal Reserve have displayed a rare degree of public disagreement over a possible interest rate cut. Inflation has picked up in recent months alongside the hiring slowdown, posing a risk of an economic double-whammy known as " stagflation ."

The Fed is stuck in a bind, since the central bank must balance a dual mandate to keep inflation under control and maximize employment. To address pressure on both of its goals, the Fed primarily holds a single tool: interest rates.

If the Fed holds interest rates steady as a means of protecting against tariff-induced infla

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