Fed holds rates again
Powell says FOMC’s “broad sense” is that US economy is moving to point where cuts would be justified
The US Federal Reserve’s federal open market committee (FOMC) voted unanimously on July 31 to hold the target range for the federal funds rate at 5.25% to 5.5%. The range has been at this level now for one year.
Federal Reserve chair Jerome Powell told a press conference that the “broad sense of the committee” was that the economy was moving towards a point where a cut would be appropriate.
“The job is not done on inflation, but nonetheless we can afford to begin to dial back the restriction in
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