The Federal Reserve's megaphone: Inflation is no longer an obstacle for the Federal Reserve to cut interest rates

Nick Timiraos: "The Committee is concerned about both aspects of its dual mandate," the Fed statement said. It removed language that had been described by policymakers over the past two years as "highly concerned" about inflation risks. 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.