Federal Reserve Chairman Jerome Powell said downside risks to the economy remain with trade wars softening business investment and weak inflation, signaling that policy makers may be poised to cut interest rates as soon as this month.
. His remarks come amid mounting pressure from President Trump to cut rates.
He noted that policy makers are carefully monitoring developments including the risk that weak readings on inflation could be “even more persistent than we currently anticipate.” Investors expect a quarter-point reduction this month, according to pricing in interest-rate futures contracts. Recent U.S. economic data have been mixed, but analysts cite a variety of indicators the Fed could point to supporting a cut. A gross domestic product tracking indicator from the Atlanta Fed suggests second-quarter economic growth slowed significantly.
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