FED’s September interest rates cut

Wed, 07/31/2024 - by Ellie LeTu

Source: WSJ

• Interest rates cut

  • FED Chair Jerome Powell said they could cut interest rates for the first time in 3 years this September, likely at most at 25 basis points.

• Get Inflation down

  • The Fed had been hiking interest rates aggressively: 1% (2022) to 5.5% (2024) to get inflation under control.

  • Inflation continues to cool down, dropped 2.5% this June from a peak of 8% in 2022.