“The changes in the statement and the press conference today basically tell you that September is going to happen unless the economic outlook changes materially,” former New York US Fed President William Dudley said on Bloomberg Television.
US Federal Reserve (US Fed) Chair Jerome Powell signaled central bank officials are on course to cut interest rates in September unless inflation progress stalls, citing risks of further labour-market weakening.
Powell said policymakers are moving closer to lowering borrowing costs from a more than two-decade high, highlighting a growing confidence at the US Fed to dial back its restraints on the economy. He was careful, however, not to wed officials to a rate reduction should price data prove disappointing in the coming months.
