Economy

Federal Reserve Holds Rates Steady, Signals Cut in September

Fed policymakers have observed ’some' progress in inflation in recent months.
Federal Reserve Holds Rates Steady, Signals Cut in September
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting at the William McChesney Martin Jr. Federal Reserve Board Building in Washington on July 31, 2024. Andrew Harnik/Getty Images
Andrew Moran
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The Federal Reserve is inching closer to cutting interest rates, signaling a rate reduction as soon as September if inflation continues trending downward and the labor market remains solid.

Meanwhile, Fed officials left the policy rate unchanged at a 23-year high of 5.5 percent following the two-day policy meeting that concluded on July 31.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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