 Powell also said the job market is cooling, lowering inflation pressure. Most economists think the Fed's first rate cut will happen in September, with possibly another cut to follow by the end of the year. Ed Donohue, Washington. More than half of U.S. car dealerships are still struggling to deal with a cyber attack that crippled a key software system and hampered their ability to sell cars. Hackers struck the software provider CDK Global about two weeks ago, holding its systems for ransom.