September Interest Rate Cut More Likely: Expert

Don Ma
By Don Ma
June 12, 2024Business Matters

The Federal Reserve held interest rates steady Wednesday. Officials said they expect to cut their benchmark interest rate just once this year, down from a previous forecast of three. Fed officials also noted that in recent months there has been “modest further progress” toward its 2 percent inflation target.

Despite that, according to the statement released, the Fed committee did not have enough confidence that inflation is moving sustainably toward 2 percent just yet. NTD discusses this more with Jim Iuorio, managing director at TJM Institutional Services.