Reported 3 months ago
The Federal Reserve decided to keep interest rates steady at 5.25%-5.50% during its latest meeting, but Chairman Jerome Powell indicated that a rate cut could be imminent if inflation continues to decline and economic conditions allow. The Fed is nearing confidence to lower rates, citing recent progress in moving towards its 2% inflation target. While acknowledging that key data will dictate future decisions, Powell suggested that cuts could be on the table for the upcoming September meeting.
Source: YAHOO