The central bank is poised to cut its benchmark interest rate next month from its 23-year high
America’s consumers, the primary driver of economic growth, are still willing to spend, data show
Year-over-year inflation reached its lowest level in more than three years in July
Consumers increasingly seeking cheaper alternatives, bargains or avoiding items they deem too expensive
Unemployment rate hits 4.3% as interest rates take economic toll
If inflation continues to go down, a rate cut could be on the table in September: Powell
Rate cuts typically lower borrowing costs for mortgages, auto loans and credit cards
Monthly price rise of 0.1% seen as adding to likelihood of a September rate cut
Powell declined to provide any hints of when the first rate cut would occur
Latest data fuels speculation of interest rate cuts by the Federal Reserve