Fed Indicates Rate Cuts May Come Soon

(from CNBC) Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut interest rates. “If you wait until inflation gets all the way down to 2%, you’ve probably waited too long, because the level of tightness that you have is still having effects, which will probably drive inflation below 2%,” Powell said. The Fed meets in late July. Rate cuts may come in September or later this year. 

More from CNBC