Important Takeaways:

• For the past year, the Fed has kept interest rates at their highest level in more than two decades, making it more expensive to get a mortgage, borrow money and pay off debt.
• “A rate cut could be on the table in the September meeting,” Fed Chair Jerome Powell said on Wednesday, immediately jolting markets.
• But some of that luster faded later in his press conference as he repeatedly told reporters that a September cut is by no means a sure shot.
• And if you’re thinking the Fed surely won’t begin cutting in November because of the election, you might want to reconsider.
• The Fed, Powell said, will act in the best interest of the American economy regardless of the timing. “We don’t change anything in our approach to address other factors like the political calendar,” he said.

Read the original article by clicking here.