Fed spokesperson: Powell puts rate cuts back on the agenda, highlighting cautious optimism

Odaily News Nick Timiraos, a reporter for the Wall Street Journal and known as the Federal Reserves mouthpiece, wrote in his latest article that Federal Reserve Chairman Powell has put interest rate cuts back on the map. Powells speech highlighted a cautious optimism that had faded after the disappointing inflation data in April. He said the economy has made significant progress, real progress, and considerable progress in reducing inflation while achieving stable growth. But he remains cautious about rate cuts, suggesting that the likelihood of a rate cut at the Feds meeting later this month remains slim. In addition, Powell declined to say whether he was preparing for a rate cut in September. Im not going to set any specific dates here today, he said. (wsj)