Investors are betting the Federal Reserve will resume interest-rate cuts in September, nine months after its last reduction in December 2024. Such a long pause could be particularly bullish for equities,

Federal Reserve chairman Jerome Powell signaled a possible interest rate cut in the months to come, sending stocks sharply higher.

There are 19 members of the Fed’s interest-rate setting committee, 12 of whom vote on rate decisions. One of them, Beth Hammack, president of the Federal Reserve’s Cleveland branch, said Friday in an interview with The Associated Press that she is committed to the Fed’s independence.