The Federal Reserve’s policymakers kept interest rates flat Wednesday, but signaled a rate cut would be coming soon.
The rate-setting committee offered few specifics on the central bank’s upcoming plans in its statement released Wednesday. However, today’s decision to hold interest rates steady makes a cut a strong possibility at the next meeting in September if inflation comes “down quickly” and the labor market remains “consistent” with where it is at the moment, according to Federal Reserve Chair Jerome Powell.
