Fed seen more likely to cut rates in fall after commerce data

A person shops in a supermarket selling fruit and vegetables in Manhattan, New York City, in March 2022. The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed’s 2% goal last month and spending softened, traders expect. The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed’s 2% goal last...