While maintaining interest rates at their highest point in over 20 years on Wednesday, the Federal Reserve made a suggestion that lower borrowing costs may soon be implemented by policymakers due to slight recent improvements in inflation.
Read More Federal Reserve Holds Interest Rates Steady For 2 Decades, Leaves Door Open For Cuts
Fed Governor Christopher Waller and New York Fed President John Williams both voiced that description of the shortening horizon toward looser monetary policy.
Read More Fed getting ‘closer’ to rate cuts, top officials say
U.S. consumer prices fell for the first time in four years in June amid cheaper gasoline and moderating rents.
Read More Monthly US consumer prices post first drop in four years as inflation subsides
The Nasdaq and the S&P 500 hit record highs on Monday, while the Dow scaled a more than one-month high as investors awaited a key inflation report.
Read More S&P 500, Nasdaq notch record highs with inflation data, earnings in focus
The Labor Department’s employment report also showed the economy created 111,000 fewer jobs in April and June than previously estimated.
Read More US job growth slows moderately; unemployment rate rises to 4.1%
Ebbing labor market momentum, together with abating inflation pressures, keep the Federal Reserve on track to start cutting interest rates this year.
Read More US weekly jobless claims rise as labor market gradually slows