Reported about 2 months ago
Federal Reserve officials have expressed support for interest rate cuts starting next month, highlighting a reduction in inflation and a cooling labor market. While Philadelphia Fed Bank President Patrick Harker advocates for a gradual approach to lowering rates, Kansas City Fed Bank President Jeff Schmid suggests caution, emphasizing the need for more data before making decisions. Overall, a shift in policy to reduce rates is anticipated at the Fed's upcoming meeting, reflecting concerns over the job market's health.
Source: YAHOO