Key Takeaways Federal Reserve policymakers are split on whether to cut interest rates in July, minutes of the Federal Open Market Committee's June meeting showed."A couple" members of the 12-vote committee said they were open to a July cut,

Federal Reserve Chair Jay Powell has reiterated that rate decisions will be data-driven — by inflation, and employment.

The U.S. economy added 147,000 jobs in June, beating analyst expectations, the Bureau of Labor Statistics reported.

Fed Chair Jerome Powell has sketched out new conditions that could trigger rate cuts by summer’s end, but inflation remains a big question.

Federal Reserve Governor Chris Waller said on Thursday said he favors cutting the Fed's policy rate in July. He also discussed the Fed's balance sheet and why it should continue to pay interest on bank reserves.

High interest rates hurt Long Island’s housing, job market and growth. Martin Cantor argues it’s time for the Fed to cut rates to aid economic recovery.

The average rate on 30-year fixed home loans decreased to 6.67% for the week ending July 3, down from 6.77% last week.

The market currently projects an interest rate cut in the fall, though two Fed officials floated the possibility of a rate cut this month. Fed Chair Powell has reaffirmed a "wait and see" posture, with concerns over the inflationary impact of tariffs.