Institutions: The Federal Reserve May Not Cut Interest Rates Until December

According to Jinse Finance, the US dollar edged higher after Federal Reserve Chairman Jerome Powell maintained a cautious stance on interest rate cuts. During his testimony before Congress on Tuesday, Powell appeared to dampen expectations for a rate cut in July and rejected President Trump's calls for lower rates. Pepperstone strategist Michael Brown stated in a report that the Federal Reserve may wait until December to cut rates, and is likely to reduce rates by only 25 basis points this year. (Jin10)