If we were to see, for example, inflation moving down quickly, or more or less in line with expectations and the labor market remains consistent with its current condition, then I would think that a rate cut could be on the table at the September meeting, Powell said.
The central bank is paying attention to both sides of its dual mandate, Powell said, referring to maximum employment and stable prices. Our confidence is growing because we've been getting good data.
Freddie Mac also pointed to the likelihood of a rate cut when commenting on the drop in mortgage rates, but it also called attention to consumer confidence issues stemming from ongoing affordability challenges.
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