by Catarina Saraiva
Yahoo! Finance
Powell said policymakers are moving closer to lowering borrowing costs from a more than two-decade high, highlighting a growing confidence at the Fed to dial back its restraints on the economy. He was careful, however, not to wed officials to a rate reduction should price data prove disappointing in the coming months.
“The changes in the statement and the press conference today basically tell you that September is going to happen unless the economic outlook changes materially,” former New York Fed President William Dudley said on Bloomberg Television.