"Fed Messenger": Inflation is no longer an obstacle to Fed interest rate cuts

Nick Timiraos, "Fed Messenger", August 1: The Fed statement said that "the Committee is concerned about both aspects of its dual mandate." The statement removed language that policymakers have described as "highly concerned" about inflation risks over the past two years. The shift is significant because it suggests that inflation may no longer be an obstacle to rate cuts, especially as the labor market continues to cool.