Federal Reserve Chair Jerome Powell indicated that a rate cut could be on the table as early as the Fed's next meeting on September 17-18, citing progress on inflation and a cooling job market. Despite holding interest rates steady at a 23-year high of 5.3% for now, Powell acknowledged that job gains have moderated and the unemployment rate has risen, reflecting a shift in focus from solely combating inflation to balancing both inflation and employment goals. Economists predict a high probability of a rate cut in September, which could ease borrowing costs for consumers and businesses. Meanwhile, large-cap tech stocks have experienced a significant decline, losing about $2.6 trillion in value due to market pressures and disappointing earnings reports. This downturn is attributed to the market's high expectations for performance amid the backdrop of potential Fed rate cuts. As the Fed navigates these economic challenges, the outlook for consumer confidence and overall economic growth remains cautious.