According to Foresight News, Investing reported that Federal Reserve Chairman Powell said that if conditions are met, interest rates may be cut as early as the September meeting. "Policymakers are well aware of the impact of inflation on low-income workers, and the second quarter inflation data has increased the Fed's confidence that inflation will fall back to 2%. There are risks in cutting interest rates too quickly or too slowly. If the economy remains sound and inflation persists, the Fed may keep interest rates unchanged as needed. If the labor market weakens unexpectedly, or inflation falls faster than expected, then officials will be prepared to cut interest rates."
Earlier, the Federal Reserve left interest rates unchanged yesterday, maintaining the federal funds rate target range at 5.25% to 5.5%.