as well as persistently high prices, Chair Jerome Powell said in written testimony Tuesday, a shift in emphasis away from the Fed's single-minded fight against inflation of the past two years that suggests it is moving closer to cutting interest rates."Inflation has eased notably” in the past two years, he added, though it still remains above the central bank’s 2% target.
In the past, Powell and other Fed policymakers have repeatedly stressed that the economy's strength and low unemployment rate meant they could be patient about cutting rates and wait to ensure that inflation was truly in check. Investors have put the likelihood of a Fed rate cut in September at about 76%, according to CME FedWatch, up from just 50-50 a month ago.released last week have boosted that probability. The Fed chair noted that inflation resumed its slowdown after data for the first three months of this year had suggested that inflation might be picking up. And the minutes showed that most Fed officials believe the economy is cooling, which makes a rate cut more likely.
The inability of some federal public servants to use their official language of choice at work is pushing them to ponder leaving their jobs for something else within the public service or quitting entirely.Former President Trump has argued prosecutors at his recent hush money trial introduced evidence that is protected under the Supreme Court’s presidential immunity ruling, an assertion that could upend his conviction.
The Ukrainian leader met with Polish Prime Minister Donald Tusk in Warsaw on Monday to discuss Russia's continuing attacks on Ukraine and further support from NATO.Three Gazans found dead after release from Israeli custody, relative and witness say