Powell Says Fed Could Cut Rates ‘As Soon As’ September Meeting
- Policymakers attentive to ‘both sides’ of dual mandate
- Say there has been ‘some’ further progress on inflation
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Federal Reserve Chair Jerome Powell said an interest-rate cut could come as soon as September after the US central bank voted to leave its benchmark at the highest level in more than two decades.
“The question will be whether the totality of the data, the evolving outlook, and the balance of risks are consistent with rising confidence on inflation and maintaining a solid labor market,” Powell told reporters Wednesday. “If that test is met, a reduction in our policy rate could be on the table as soon as the next meeting in September.”