TechFlame reports that former Federal Reserve Governor Larry Meyer wrote after the US Federal Reserve's interest rate meeting this week that the meaning of Powell's speech was that if things continue to develop as they are now (including the important point that the labor market has not deteriorated), the FOMC is likely to remain on hold in September. At the same time, Powell doesn't seem to rule out interest rate cuts. As long as future data and the evolution of prospects show a good reason to cut interest rates, the FOMC will take action to cut interest rates. (Gold 10)