On July 22, Reuters reported that the Federal Reserve may delete the wording of "high" inflation at its policy meeting next week. If this is the case, it will be the strongest signal so far that the Fed plans to cut interest rates as early as September and start its easing cycle. The adjustment of the description of inflation from high to milder words may also lead the Fed to revise another key sentence in the current policy statement: the Fed will not cut interest rates until officials are more confident that inflation will continue to move toward 2%. Bostic, a 2024 FOMC voting member, indirectly hinted at the end of June that if the inflation rate reaches 2.5% or below, it can be used as an indicator to consider adjusting the description of inflation. Many economists believe that the June PCE data released on July 26 will fall to or below this threshold.