Most Federal Reserve officials favor rate cut in September if inflation cools, minutes reveal
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Most Federal Reserve officials indicated a likely interest rate cut in September if inflation continues to decrease; Fed's July 30-31 meeting minutes show 'vast majority' support easing policy; current benchmark rate is 5.3%, held for over a year; Wall Street anticipates first rate cut in four years; inflation has dropped from 7.1% in 2022 to 2.5% now; Fed Chair Jerome Powell to speak at Jackson Hole symposium; political implications noted as rate cut approaches presidential election; July jobs report showed weaker hiring and rising unemployment at 4.3%; retail sales rose in July, indicating consumer spending remains strong.
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https://www.pbs.org/newshour/economy/most-federal-reserve-officials-favor-rate-cut-in-september-if-inflation-cools-minutes-reveal
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