Fed's Powell flags cuts 'as soon as' September

By Agence France-Presse

Aug 02, 2024 12:26 am

WASHINGTON — The US Federal Reserve left its key lending rate unchanged again on Wednesday, but signaled that it could make its first cut as soon as September.

After two days of deliberations, policymakers voted unanimously to maintain the US central bank's benchmark interest rate between 5.25 percent and 5.50 percent, the Fed said in a statement — keeping rates at a 23-year high.

Federal Reserve Board Chairman Jerome Powell. AP PHOTO

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