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Fed’s Powell doubles down on rate cut signal

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Fed's Powell doubles down on rate cut signalFederal Reserve Chair Jerome Powell added more weight to expectations the central bank will cut interest rates later this month, stressing Tuesday that the US inflation outlook is near historic lows. Economists and investors see it as a certainty that the Fed will lower the key borrowing rate at the policy meeting July 30-31, and Powell in recent statements has moved to solidify those predictions by pointing to some concerns about economic growth and persistent weak inflation. Central bankers have “raised concerns about a more prolonged shortfall in inflation below our 2 percent target,” Powell said in a prepared speech at a Bank of France event.

Source: Yahoo.com