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This is arguably the first moment of a true “soft landing” for the U.S. economy, where inflation gets tamed by higher rates without killing the labor market.

Jay Powell goes big on rate cut

Cut, slash, drop – whatever you call it, the Federal Reserve’s decision to go big on a rate cut is a huge deal.

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Punchbowl News Presents

We’re launching a weekly show on YouTube on September 4! Fly Out Day will include authentic conversations with the people shaping today’s biggest political stories, straight from our townhouse. Subscribe to our YouTube channel for early access.

Editorial photos provided by Getty Images. Political ads courtesy of AdImpact.

Punchbowl News Presents

We’re launching a weekly show on YouTube on September 4! Fly Out Day will include authentic conversations with the people shaping today’s biggest political stories, straight from our townhouse. Subscribe to our YouTube channel for early access.