Consumers increasingly seeking cheaper alternatives, bargains or avoiding items they deem too expensive
Unemployment rate hits 4.3% as interest rates take economic toll
If inflation continues to go down, a rate cut could be on the table in September: Powell
Rate cuts typically lower borrowing costs for mortgages, auto loans and credit cards
Monthly price rise of 0.1% seen as adding to likelihood of a September rate cut
Powell declined to provide any hints of when the first rate cut would occur
Latest data fuels speculation of interest rate cuts by the Federal Reserve
Investors have put the likelihood of a Fed rate cut in September at about 76%, according to CME FedWatch
Minutes of most recent meeting show that policymakers are in no rush to reduce borrowing costs
Powell said the U.S. economy and job market remain fundamentally healthy