A top Federal Reserve official said Monday that the central bank may be forced to cut interest rates this year if economic growth slows and inflation remains low.

James Bullard, president of the Federal Reserve Bank of St. Louis, said in a Monday speech that “a downward policy rate adjustment may be warranted soon.”

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He said the Fed faces several challenges, including “an economy that is expected to grow more slowly going forward, with some risk that the slowdown could be sharper than expected due to ongoing global trade regime uncertainty.”

President TrumpDonald John TrumpHead of Trump’s Council of Economic Advisers to depart administration The Guardian editorial board says Trump is ‘not welcome’ in U.K. ahead of his first state visit Kushner casts doubt on the ability of Palestinians to govern themselves MORE has ramped up a trade fight with China and is vowing to impose tariffs on exports from Mexico starting next week.

“In addition, both inflation and inflation expectations remain below target, and signals from the Treasury yield curve seem to suggest that the current policy rate setting is inappropriately high,” Bullard said.

Bullard is the first reserve bank president to say that a rate cut might be necessary this year. Fed watchers and investors have increased the odds of rate reduction as trade tensions and stock market volatility cloud the economic picture.

The economy is expected to grow at a slower rate in 2019 than it did in 2018, when U.S. gross domestic product increased 2.9 percent over the year. Rising trade tensions between the U.S. and several crucial partners, including China, Mexico and the European Union, may also weigh down the economy.

The Fed is also concerned that inflation has lingered below its 2 percent target range as measured by the personal consumption expenditures (PCE) index minus food and energy prices.

The central bank considers a 2 percent annual rate of average price increases to be optimal for a healthy, expanding economy. But the core PCE index for the year since April 2018 showed a 1.6 percent rate of inflation.

The Fed has raised interest rates nine times since 2015 and seven times since President Trump took office in 2017 in a bid to prevent rampant inflation. Trump has been fiercely critical of the Fed’s interest rate policies and has called on the bank to cut rates throughout 2019.

Federal Reserve Chairman Jerome Powell said in May that the bank would likely be “patient” and keep the benchmark interest rate unchanged barring a major shift in the economy.

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The Department on Transportation Monday released a proposal that calls for Congress to crack down on protests of existing or under-construction pipelines, as reported by to Politico.

Current law punishes damaging or destroying existing pipelines with fines and up to 20 years in prison. The proposal, by the Pipeline and Hazardous Materials Safety Administration (PHMSA), would expand the offenses to include “vandalism, tampering with, or impeding, disrupting or inhibiting the operation of” pipelines and include both those currently in operation and those under construction, according to the publication.

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While the proposal would likely be doomed in the Democratic House, it represents the Trump administration joining several states that have sought to deter activism around pipelines, efforts that critics have said could have chilling effects on First Amendment rights.

A spokesperson for Rep. Frank Pallone (D-N.J.), chair of the House Energy & Commerce Committee, told Politico that he “has no intention of allowing a pipeline safety bill to be used as a vehicle for stifling legitimate dissent and protest,” vowing the bill would not make it out of the committee.

“This provision is a clear infringement on the basic right of speech and assembly and a poorly veiled effort to undermine the ability of Native and Indigenous communities to advocate for themselves and their tribal lands,” said Sen. Ed MarkeyEdward (Ed) John MarkeyHillicon Valley: Facebook shareholders reject proposals to limit Zuckerberg’s power | Google cracks down on video game ‘loot boxes’ | California moves closer to protecting gig economy workers Google cracks down on video game ‘loot boxes’ amid child gambling concerns Hillicon Valley: Assange hit with 17 more charges | Facebook removes record 2.2B fake profiles | Senate passes anti-robocall bill | Senators offer bill to help companies remove Huawei equipment MORE (D-Mass.) in a statement.

“This proposal is not meant in any way to inhibit lawful protesters from exercising their first amendment rights, and PHMSA is committed to working with Congress to make sure that this is clear in any final legislation,” said PHMSA spokesperson Darius Kirkwood

In March, the American Civil Liberties Union of South Dakota sued the state over a law signed by Gov. Kristi NoemKristi Lynn NoemTrump touts ‘BIG FIREWORKS’ returning to Mt. Rushmore for July 4 American Indian tribe bans GOP governor from reservation over opposition to Keystone protestors New governors chart ambitious paths in first 100 days MORE (R) that allowed the state to sue people or organizations for “riot boosting” even if the defendants did not participate in any rioting. Noem specifically called the law “a legislative solution to ensure the safety and efficiency of pipeline construction in South Dakota.”

In recent years, six states have criminalized protesting near “critical infrastructure,” with Texas and Missouri set to send similar bills to their respective governors’ desks, according to Politico.

The Oglala Sioux Tribal Council unanimously voted in May to ban Noem from its reservation. The tribe said she consulted with Keystone XL pipeline creator TransCanada without likewise consulting with Sioux tribal councils whose land is affected by the pipeline construction.

Native American tribes have taken the lead against pipeline projects they say would pose environmental hazards or run through tribal lands, with dozens of tribes rallying against the Keystone XL pipeline in particular.

After a series of court orders hindering the pipeline, President TrumpDonald John TrumpHead of Trump’s Council of Economic Advisers to depart administration The Guardian editorial board says Trump is ‘not welcome’ in U.K. ahead of his first state visit Kushner casts doubt on the ability of Palestinians to govern themselves MORE signed a presidential permit to jump-start construction in March.

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The U.S. aircraft carrier sent by the Trump administration to the Middle East amid strains with Iran has not yet entered the Persian Gulf in an effort to cool tensions between the two countries, The Associated Press reported.

The USS Abraham Lincoln on Monday was 200 miles off the Oman coast in the Arabian Sea, according to the AP. The carrier would still need to pass through the Gulf of Oman and the Strait of Hormuz before reaching the Persian Gulf.

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The Navy would not comment on why the carrier hadn’t gone into the Persian Gulf and would only say they are ready to launch any mission.

“You don’t want to inadvertently escalate something,” the Lincoln’s commanding officer Capt. Putnam Browne told the AP.

The U.S. forces could “conduct my mission wherever and whenever needed,” Rear Adm. John Wade, the commander of the carrier strike group, said when asked about why the Lincoln hadn’t entered the Persian Gulf.

“They do impose a threat to our operations, but also to the safety and security of commerce and trade going through the Strait of Hormuz and that’s why we are here,” he said.

The White House last month ordered the sped-up deployment of the carrier strike group to the region along with a B-52 bomber task force in response to what the administration called “troubling and escalatory indications and warnings” from Iran.

Tensions have worsened between Washington and Tehran since President TrumpDonald John TrumpHead of Trump’s Council of Economic Advisers to depart administration The Guardian editorial board says Trump is ‘not welcome’ in U.K. ahead of his first state visit Kushner casts doubt on the ability of Palestinians to govern themselves MORE pulled America out of Iran’s nuclear deal last year and imposed sanctions on the nation.

The Navy has since conducted an exercise with the strike group in the Arabian Sea and also ordered hundreds of additional troops to the area.

But acting Defense Secretary Patrick Shanahan on May 21 said the threat from Iran was “on hold.”

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President TrumpDonald John TrumpTrump: ‘I was not informed about’ reported request to move USS John McCain Meghan McCain: Trump is a ‘child’ who will always be ‘deeply threatened’ by my dad Trump accuses Democrats of crime amid rising calls for impeachment MORE on Thursday sought to distance himself from a reported decision by military officials to obscure the USS John S. McCain during his trip to Japan, calling the report “an exaggeration, or even fake news.”

“The Navy put out a disclaimer on the McCain story,” Trump said in a tweet Thursday evening. “Looks like the story was an exaggeration, or even Fake News – but why not, everything else is!”

Trump earlier Thursday defended the reported decision, saying whoever made the order was “well-meaning.” 

“I didn’t know anything about it. I would never have done that,” Trump told reporters as he departed the White House to deliver a commencement address at the Air Force Academy in Colorado.

The remarks came after The Wall Street Journal reported Wednesday that officials asked that the Navy ship — named for the late Sen. John McCainJohn Sidney McCainTrump: ‘I was not informed about’ reported request to move USS John McCain Meghan McCain: Trump is a ‘child’ who will always be ‘deeply threatened’ by my dad White House asked for USS John McCain to be ‘out of sight’ during Trump’s visit to Japan: WSJ MORE‘s (R-Ariz.) father and grandfather, with the late senator joining the namesakes in 2018 — be “out of sight” Trump was in Japan.

Officials were aware of the concern about the USS McCain and approved measures so it would be hidden during Trump’s state visit, an official told the Journal. Trump and McCain maintained a contentious relationship until the senator’s death from brain cancer last August. 

Acting Defense Secretary Patrick ShanahanPatrick Michael ShanahanMeghan McCain: Trump is a ‘child’ who will always be ‘deeply threatened’ by my dad White House asked for USS John McCain to be ‘out of sight’ during Trump’s visit to Japan: WSJ Overnight Defense: Pentagon intel chief believes Russia cheating on nuke treaty | Shanahan breaks with Trump over North Korean missile tests | Top general explains Iranian threats MORE told reporters early Thursday while traveling abroad that he was unaware of the incident with the USS McCain and that he’s ordered his chief of staff to look into the matter.

Trump knocked McCain later Thursday for his vote against the repeal of the Affordable Care Act. He said he “was not a big fan of John McCain in any way, shape or form.”

Trump has frequently lashed out at McCain, targeting the senator even after his death.

Former Interior Secretary Ryan ZinkeRyan Keith ZinkeGOP rep Gianforte considering run for Montana governor: Report Senate panel approves Interior nominee over objections from Democrats Interior’s border surge puts more officers in unfamiliar role MORE is not ruling out a return to politics despite leaving the Trump administration marred by ethical issues.

“The president didn’t want me to leave. I may or may not go back into the administration at a later time,” Zinke told the Houston Chronicle. “I believe in the president’s vision of making sure America is strong and not held hostage. The world is a lot safer when America is strong.”

Zinke told the Chronicle he was open to returning to Washington after the 2020 elections.

The former Navy SEAL and Montana congressman announced he would leave his post at the Department of the Interior in December of last year, following a string of ethics investigations.

Zinke’s behavior spurred more than a dozen investigations into his conduct in office, including probes into whether he improperly blocked an American Indian casino project after a competitor’s lobbying and scrutiny over a land deal involving a foundation he led and a company backed by David Lesar, chairman of oilfield services company Halliburton.

Interior’s Office of Inspector General also found that Zinke violated department policies by letting his wife travel in government vehicles, but the office cleared him of potential violations related to his official travel, including flying on a jet owned by an oil executive and using a private plane on a trip that included a political fundraiser.

Zinke was dismissive of the investigations.

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“There’s an allegation and the opposition demands an investigation with great fanfare,” he said. “Washington has become a city that has a lot of anger, a lot of hatred, a lot of fake news and false allegations. The two sides are trying to destroy each other rather than work together.”