Home News Fed Statement Silent About September Rate Cut, Still Waiting for “Greater Confidence”...

Fed Statement Silent About September Rate Cut, Still Waiting for “Greater Confidence” About Inflation, Keeps Rates Unchanged

August 1, 2024

Powell has some explaining to do. Only slight concessions about strength of the labor market and improvements in inflation.

FOMC members voted unanimously today to maintain the Fed’s five policy rates, with the top of its policy rates at 5.50%, according to the statement released today after its two-day meeting. The last rate hike occurred in July 2023, and this decision marks the anniversary of the 5.25% to 5.5% rates:

Continue Reading at WolfStreet.com…

Inflation Café (IC) content is informational only and based on information available at the time of creation. It is not an offer or solicitation, nor does it provide investment, tax, or legal advice. It may not consider your specific financial circumstances or objectives and may not be suitable for you. IC content is not a recommendation to buy or sell any securities. Readers should consult their own professional advisers and conduct their own independent investigations before making any investment decisions. IC does not guarantee the accuracy or completeness of its content or any third-party information it uses, which has not been independently verified by IC. Readers are cautioned not to rely solely on IC content for investment decisions.

IC and its owner may have financial interests in the companies discussed and may trade such securities without prior notice. IC is funded by sponsor advertisements, with payments ranging from five to ten thousand dollars monthly. IC does not charge its viewers/listeners/readers any fees. By accessing IC content, users agree that IC and its affiliates are not liable for any inaccuracies, omissions, or representations in the content provided.