Powell Dismisses the Possibility of a Rate Cut in July

Odaily Planet Daily – When asked whether the Federal Reserve is prepared to cut interest rates again at its next meeting in July, Fed Chair Jerome Powell declined to answer during his congressional testimony. Powell stated, “I don’t want to single out any particular meeting. I don’t think we need to move too hastily.” Republican Congressman Mike Lawler pressed Powell on why the Fed has not opted to cut rates despite cooling inflation, echoing criticisms President Trump has previously leveled at the Fed Chair. (Jin10)