Overview

• The Federal Reserve kept its benchmark rate unchanged for a fifth consecutive meeting, with Jerome Powell emphasizing patience until fresh economic data justify a change.
• Two Fed officials indicated support for an immediate rate cut, underscoring divisions within the policy-setting committee.
• The U.S. JOLTS report showed a sharper-than-expected drop in June job openings, reinforcing the Fed’s data-driven approach.
• Equity benchmarks in the U.S. and Europe, including the S&P 500, Nasdaq and CAC 40, recorded modest gains in cautious trading.
• Investors are now focused on this week’s second-quarter GDP estimate, the June PCE inflation gauge and July unemployment figures to guide the Fed’s next steps.