After Powell's testimony was released, traders estimated the possibility of the Federal Reserve's first rate cut in September to be slightly above 70%
PANews reported on July 9th that Powell's remarks indicate it is unlikely for the FOMC to cut interest rates at the end of this month. The yield on U.S. Treasury bonds fluctuated but rose intraday, and the S&P 500 index maintained its upward trend after Powell's testimony was released. Traders anticipate a slightly over 70% chance of the Fed making its first rate cut in September. They expect two cuts of 25 basis points each in 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
EdiliziAcrobatica announces shareholder meeting notice
Storage Giant Offers Huge Bonuses Again: Micron Awards Up to 68 Months’ Bonus
Micron Technology has announced record-breaking bonuses for its employees in Taiwan, ranging from 35 to 68 months’ salary, with a minimum cash compensation of 1.7 million New Taiwan dollars. However, the Taoyuan union, representing about two-thirds of Micron’s workers in Taiwan, has refused to accept the offer, insisting that 15% of operating profits be included in the bonus distribution and maintaining the threat of a strike.
Crypto prices
More
