Jerome Powell Suggests 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.