Economics
Fed Leaning Toward a Quarter-Point July Rate Cut Led by Powell
- Fed chairman’s messages have signaled a small insurance move
- Clarida, Williams comments roil markets before July meeting
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Federal Reserve Chairman Jerome Powell and his colleagues look primed to cut interest rates by a quarter percentage point later this month, eschewing a bigger move in what would be their first reduction in borrowing costs in more than a decade.
Faced with slow global economic growth and elevated trade tensions, the policy makers are also likely to leave open the possibility of further cuts down the road as they seek to sustain the record-long U.S. economic expansion.