Federal Reserve megaphone: A few officials suggest they may join the interest rate cut camp in September

The latest article by "Federal Reserve mouthpiece" Nick Timiraos: Policy meeting notes released today show that the Federal Reserve's decision to keep interest rates unchanged last month still has broad support despite the opposition of two officials who advocated cutting interest rates. But a few officials have joined Waller and Bowman in their stance, suggesting they may support a rate cut at the Fed's next meeting on September 16-17. They said that the transmission of tariff increases to consumer prices has been slower than expected, which should ease concerns about new inflationary shocks caused by rising import costs. However, inflation-focused "hawks" pointed out that price pressures have increased since last month's meeting, including the price of services. Mr. Schmid, president of the Kansas City Fed, said in a speech last week that the impact of tariffs on inflation was limited, in part because the Fed had kept interest rates stable. Unlike Mr. Baumann, who has been calculating inflation after tariffs, Mr. Schmid promised never to make such calculations, calling them "a concept that is neither meaningful nor measurable".