Rate Cut ‘Could Be on the Table’ at Next Fed Meeting, Powell Says

The labor market has come into higher stability and the unemployment fee stays low. Inflation has eased considerably from a peak of seven % to 2.5 %. We’re strongly dedicated to returning inflation to our 2 % objective in assist of a powerful economic system that advantages everybody. As we speak, the F.O.M.C. determined to go away our coverage rate of interest unchanged and to proceed to scale back our securities holdings. We’ve made no selections about future conferences, and that features the September assembly. The broad sense of the committee is that the economic system is transferring nearer to the purpose at which it will likely be acceptable to scale back our coverage fee.