Fed clears path for September interest rate cut

The Fed's chair cited better news on inflation and a desire to prevent a rise in unemployment as reasons interest rates may be cut next month. (Image: Getty)

The Wall Street Journal

Thu, 01 Aug 2024

By Nick Timiraos US Federal Reserve chair Jerome Powell says officials could cut interest rates at their meeting in September, moving closer to a new phase that seeks to avoid weakness in the labour market in the midst of signs inflation is heading lower.While Powell and his colleagues didn’t commit to any such move when they held rates steady on Wednesday, he appeared to suggest during a news conference after the meeting that a cut was more likely than not. “The broad sense of the committee is that the economy is moving...

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