Fed Chair Jerome Powell Hints at Possible Interest Rate Cut in September

Federal Reserve Chair Jerome Powell announced that interest rates might be cut as early as September if the U.S. economy follows its expected path, signaling the end of a two-year effort against inflation. The Fed held its benchmark interest rate steady but softened its stance on inflation, indicating a potential shift in policy. Powell emphasized that easing price pressures could justify a rate cut, aligning with economic data and not political considerations. While some Fed members considered a rate cut during the latest meeting, the consensus was to wait for more data.