Fed Holds Interest Rates Steady Amid Signs of Slowing Inflation

Federal Reserve officials see progress in inflation but await more data before considering rate cuts.

Minutes from the June meeting show Fed officials acknowledging a cooling economy and easing price pressures.
The Fed maintained the federal funds rate at 5.25%-5.50%, citing the need for more evidence of sustained inflation decline.
Job market indicators suggest a normalization, with unemployment holding steady and wage pressures easing.
Fed Chair Jerome Powell emphasized a cautious approach, balancing risks of premature rate cuts against potential economic slowdown.
Market expectations lean towards potential rate cuts later in the year, contingent on continued favorable inflation data.