U.S. Fed Holds Rates Steady as Powell Hints at Potential Rate Cut in September
TMTPOST--U.S. Federal Reserve Chairman Jerome Powell indicated on Wednesday that a rate cut might be on the table for the September meeting, expressing optimism about recent inflation progress.
As anticipated, the U.S. central bank kept rates unchanged for the eighth consecutive meeting in July, maintaining the 23-year high range of 5.25-5.50%.
Powell noted there was a "real discussion" among policymakers about a rate adjustment in July, but consensus led to postponing the decision to September.
"The broad sense of the committee is that the economy is moving closer to the point at which it will be appropriate to reduce our policy rate," Powell said during his press conference.
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