Fed Maintains Rates, Signals Possible September Cut
Fed Maintains Rates, Signals Possible September Cut

Fed Maintains Rates, Signals Possible September Cut

News summary

The Federal Reserve has kept its benchmark interest rate unchanged at 5.25%-5.5%, citing ongoing progress towards its 2% inflation target. Despite maintaining the current rate, the Fed has signaled a potential rate cut in September if inflation continues to ease and the labor market cools further. Policymakers emphasized the need for greater confidence in sustainable progress towards their inflation goals before making any rate cuts. The decision aligns with market expectations and reflects the Fed's cautious approach amid economic uncertainties. Financial markets have largely priced in a rate cut for the September meeting, but the Fed's statement suggested no guarantees. Fed Chair Jerome Powell's upcoming press conference is expected to provide further insights into the central bank's outlook.

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