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Jerome Powell says September rate cut could be “on the table”
By Staff Reporters
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Jerome Powell isn’t known for being direct, but he made an exception yesterday, saying an interest rate cut could come “as soon as the next meeting” in September after the FOMC kept rates steady at the two-decade high they’ve been at since last July.
“We’re getting closer to the point at which it’ll be appropriate to reduce our policy rate,” he said. “But we’re not quite at that point.”
It’s a change from Powell’s other recent statements, which were hazier on the timing, though he did say the decision to cut rates still depends on inflation continuing to cool.
CITE: https://www.r2library.com/Resource
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Filed under: "Ask-an-Advisor", Accounting, Alerts Sign-Up, Experts Invited, Financial Planning, Glossary Terms, Investing | Tagged: fed, Federal Reserve, FOMC, inflation, interest rates, IRS, Jerome Powell, Powell |
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