https://www.siliconvalley.com/2024/09/16/what-happens-when-the-fed-finally-cuts-rates/

Inflation has slowed and the labor market has softened enough to satisfy the Federal Reserve. That means the central bank is about to cut interest rates.

On Aug. 23, Fed Chair Jerome Powell said, “The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”