WASHINGTON (AP) — Federal Reserve governor Michelle Bowman on Monday said the central bank should consider cutting its key interest rate as soon as its next meeting in July, underscoring deep divisions among Fed officials as they endure sharp criticism from the White House. Bowman said that President Donald Trump's tariffs have so far not caused the jump in inflation that many economists feared, and any upcoming increase in prices would likely be just a one-time rise. “It is likely that the impact of tariffs on inflation may take longer, be more delayed, and have a smaller effect than initially expected,” Bowman said in a speech Monday in Prague.