Fed holds rates steady, Powell says September cut 'could be on the table'
Fed holds rates steady, Powell says September cut 'could be on the table'
https://finance.yahoo.com/news/fed-holds-rates-steady-powell-says-september-cut-could-be-on-the-table-180848047.html
Summary
Certainly! Here are the key takeaways from the article on the Federal Reserve's recent decision and Chairman Jerome Powell's statements:
- Interest Rates Held Steady: The Federal Reserve kept its benchmark interest rate unchanged at 5.25%-5.50%, a 23-year high[^1^][1].
- Hints of Rate Cut: Powell hinted that a rate cut could be on the table for the next meeting in September, citing progress on inflation and a cooling job market.
- Inflation and Labor Market: The Fed is closely monitoring inflation trends and labor market conditions to determine the appropriate policy rate.
- Policy Statement Changes: The Fed's policy statement indicated "some further" progress on inflation and better balance between price stability and full employment.
Overall, the Fed is considering easing monetary policy, but remains cautious based on economic indicators.