#FOMCMeeting

Updated FOMC Meeting Highlights

The Federal Open Market Committee (FOMC) held its latest meeting and decided to keep interest rates steady at 5.25%-5.50%. Here are the key takeaways¹:

- *Interest Rate Decision*: The FOMC unanimously voted to maintain the current interest rate, marking the eighth consecutive meeting with no changes since July 2023.

- *Rate Cut Expectations*: Fed Chair Jerome Powell hinted at potential rate cuts in September, citing progress in reducing inflation and a cooler job market.

- *Inflation Progress*: The Fed noted "some further progress" toward its 2% inflation target, with inflation easing over the past year but remaining "somewhat elevated".

- *Economic Outlook*: The committee believes the economy is moving closer to the point where rate cuts might be necessary, with policymakers attentive to risks on both sides of its dual mandate.

- *Next Meeting*: The FOMC will meet again on September 17-18 to discuss further policy decisions.