TechFlow, on August 1, according to Jinshi Data, former Federal Reserve Governor Larry Meyer wrote after this week's FOMC meeting that the implication of Powell's remarks was that if things continue to unfold as they currently are—including the important point that the labor market does not deteriorate—the FOMC is likely to remain on hold in September.
At the same time, Powell did not sound averse to rate cuts; the FOMC would take action to cut rates if future data and evolving outlooks indicate sufficient justification.
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