(Reuters) - The Federal Reserve is getting closer to a point where it can start cutting interest rates but will lack sufficient data before its July meeting to confirm inflation is on a sustainable path back to 2%, New York Fed President John Williams said in an interview published on Wednesday. The U.S. central bank is widely expected to keep...

WASHINGTON (Reuters) - U.S. single-family homebuilding dropped further in June, but activity is likely to rebound in the months ahead amid growing optimism the Federal Reserve will deliver a long-awaited interest rate cut in September. Single-family housing starts, which account for the bulk of homebuilding, fell 2.2% to a seasonally adjusted annual rate of 980,000 units last month, the Commerce...

07:38 AM EDT, 07/17/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Wednesday ahead of the release of housing starts data for June at 8:30 am ET and industrial production data for June at 9:15 am ET. Weekly petroleum stocks are due to be released at 10:30 am ET and an update to the Atlanta...

New York Federal Reserve President John Williams hinted at a potential interest rate cut in the coming months, suggesting that the Fed might be closer to this decision than previously thought. What Happened: Williams, who is also the vice-chair of the Fed’s rate-setting committee, indicated that a rate cut could be on the cards if the recent slowdown in inflation persists,...