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Powell rejects possibility of rate cut in July: Not deemed necessary to rush
Summary: Contrary to speculation, according to Jinshi's report, Federal Reserve Chairman Powell, while testifying before Congress, was asked if the Fed is prepared to cut rates again at the next meeting in July. Powell stated: 'I don't want to point to a specific meeting, I don't think we need to rush.' Republican Congressman Mike Lawler pressed ...
Contrary to speculation, according to Jinshi's report, Federal Reserve Chairman Powell, while testifying before Congress, was asked if the Fed is prepared to cut rates again at the next meeting in July. Powell stated: 'I don't want to point to a specific meeting, I don't think we need to rush.' Republican Congressman Mike Lawler pressed Powell on why the Fed is not choosing to cut rates despite cooling inflation, echoing criticisms from President Trump.
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