Summary:
Fed officials are expected to keep the key interest rate steady this week, despite some economists suggesting July is the right time for a cut.
The Fed's Jul meeting
7/31/2024 (Wed)
Previous (Jan): 5.50% Forecast: 5.50%
Officials at the Fed are widely expected to hold the key interest rate steady later this week though some economists saying July is the right time to cut.
In recent speeches, Fed officials have said they were encouraged by data showing inflation had fallen steadily in recent months, but more data are needed before committing to cutting rates.
A September rate cut could cause the central bank to face political criticism from both sides of the aisle in Washington. Republicans would get riled up by the move, otherwise Democrats would push for it.
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