Chair Jerome Powell of the Federal Reserve expressed confidence on Monday that inflation is trending back towards the 2% target. Powell stated that the Fed would consider lowering rates before inflation reaches that level. He mentioned positive recent inflation readings during a discussion at the Economic Club of Washington, indicating a promising overall trend in inflation. However, Powell refrained from providing specifics on when a rate cut might happen. While many economists anticipate a rate cut in September, some predict a potential cut at the upcoming Fed meeting. Powell avoided signalling any particular meeting for a rate adjustment.