“We’re getting closer to the point at which it’ll be appropriate to reduce our policy rate,” Federal Reserve Chair Jerome Powell said yesterday|@federalreserve|X
Federal Reserve Chair Jerome Powell yesterday signaled the central bank’s first rate cut in four years is on the horizon, saying it could arrive “as soon as the next meeting” in September if the economy follows its current trajectory and inflation continues to cool.
The Fed has been in a battle against inflation for more than two years, keeping rates steady at the two-decade high since last July.
“We’re getting closer to the point at which it’ll be appropriate to reduce our policy rate,” Powell said, “but we’re not quite at that point.”