"Fed megaphone": the Fed has not signalled a rate cut

Nick Timiraos, the "Fed's sounding board", commented on the minutes of the Fed meeting, saying that there was no clear signal of a rate cut in September, but there were some very meaningful changes in the first half of the statement: the dual mandate is back, and inflation has fallen from "at elevated levels" to "somewhat elevated". "down to" to some extent in the high level ".