Jay Powell said a July interest rate cut was not “off the table” for the US Federal Reserve, in an apparent softening of his position that the central bank should wait until the autumn to start lowering borrowing costs.
The Fed chair, who has come under mounting pressure from President Donald Trump to slash rates, had signalled in recent weeks that any reduction before September was unlikely.
But asked on Tuesday whether a cut this month was out of the question, Powell responded: “I really can’t say. It’s going to depend on the data. And we are going meeting by meeting.”
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