Fed spokesperson: Powell puts rate cuts back on the agenda, highlighting cautious optimism

Nick Timiraos, a reporter for the Wall Street Journal and known as the "Federal Reserve's mouthpiece," wrote in his latest article that Federal Reserve Chairman Powell has put interest rate cuts back on the table. Powell's speech highlighted a cautious optimism that had faded after disappointing inflation data in April. He said the economy has made "significant progress," "real progress," and "considerable progress" in reducing inflation while achieving stable growth. But he remains cautious about cutting rates, suggesting that the likelihood of a rate cut at the Fed's meeting later this month remains slim. In addition, Powell declined to say whether he was preparing for a rate cut in September. "I'm not going to set any specific dates here today," he said. (wsj)