On July 22, according to a Reuters analysis report, the Federal Reserve's policy meeting next week may remove the language of "high" inflation. If so, it would be the strongest signal yet that the Federal Reserve plans to cut interest rates as early as September and start its easing cycle. Changing the description of inflation from high to more dovish words could also lead the Fed to modify another key sentence in its current policy statement: the Fed will not cut interest rates until officials are "more confident that inflation will continue to move towards 2%." Bostic, the 2024 FOMC voting committee member, implicitly hinted in late June that an inflation rate of 2.5% or below could be used as an indicator to consider adjusting the inflation description. Many economists believe that the June PCE data released on July 26 will fall below or below that threshold.