MNI: Fed’s Powell-Rate Cut Could Be On Table As Early As Sept

The Federal Reserve has not yet made a decision on when to cut interest rates but the first reduction could come as early as the next meeting in September if inflation keeps improving or employment conditions worsen, Fed Chair Powell said Wednesday.

Powell told reporters in his post-meeting press conference that “a rate cut could be on the table at September meeting."

"We have made no decisions about future meetings and that includes the September meeting. We are moving closer to the point where it will be appropriate to move our policy rate," he said. (See MNI INTERVIEW: September Fed Rate Cut Not Assured-Lockhart)

“The second quarter’s inflation readings have added to our confidence, and more good data would strengthen that confidence.”