June 13 Brokerages continued to forecast that the U.S. Federal Reserve will lower interest rates in September or later, saying that rate-setters would need to see more evidence of inflation cooling.

At the end of its June meeting on Wednesday, the Fed held interest rates steady at 5.25-5.50%, where it has stood since last July, and pushed out the start of rate cuts to perhaps as late as December.

Ahead of the Fed decision, data showed consumer prices were unexpectedly unchanged in May as cheaper gasoline and other goods offset higher costs for rental housing, but inflation remains too high for the U.S. central bank to start cutting rates before September.