Fed Chair Powell said they haven't made a decision about interest rate cuts for September.

US Federal Reserve (Fed) Chair Jerome Powell stated that no decision has been made regarding interest rate cuts for September. Powell held a press conference after the Fed held its policy rate steady at 4.25-4.50%, in line with expectations. Powell noted that despite high uncertainty, the economy remains in a solid position, with the unemployment rate remaining low and the labor market at or near its maximum. Powell reiterated that inflation is running slightly above its long-term 2% target. Fed Chair Powell stated that they believe the current monetary policy stance positions the bank well to respond to potential economic developments in a timely manner.