Reported 12 months ago
Federal Reserve officials welcomed signs of slowing inflation and a possible cooling of the job market and economy, potentially leading to a cut in the benchmark interest rate from its peak of 5.3%. The June 11-12 meeting highlighted factors like slower wage growth and retail price reductions as evidence of easing inflation. However, policymakers emphasized the need for more evidence to confirm sustained return to the 2% target, indicating no immediate rush to cut rates. Market watchers are awaiting clarity on the timing of rate cuts, which could impact borrowing costs and stock prices. Officials also expressed concerns over potential layoffs with further job market cooling, reflecting a shift towards balancing stable prices and full employment as policy goals.
Source: YAHOO