The Federal Reserve sees cooler inflation and slower job market, suggesting a rate cut is nearing. The Federal Reserve said Wednesday that greater progress has been made in reducing inflation to its 2% target, a sign that the central bank is moving closer toward cutting its key interest rate for the first time in four years. A greater focus on the employment half of the Fed’s mandate, along with cooling inflation, would support the case for a rate cut in the coming months. At a news conference Wednesday, Fed Chair Jerome Powell said that if inflation continued to cool, “a rate cut could be on the table in the September meeting.”
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