The Federal Reserve has room to cut interest rates another notch this month, economists say. Whether it will do so is another question.

"There is room because the inflation situation is so good, but I doubt they will," said Allen Sinai, chief global economist at Lehman Brothers. "The Fed is focused on economic growth, and to go down another notch at their next meeting on Aug. 22 would require some very weak business reports."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.