Reported about 1 year ago
Federal Reserve Chair Jerome Powell testified before Congress, stating that the U.S. economy is no longer overheated and the job market has returned to pre-pandemic levels. Powell suggested that the case for interest rate cuts is becoming stronger, emphasizing the need to consider two-sided risks and the importance of data-based decision-making. Analysts believe his statements indicate a possible rate cut in September, with investors already placing a high probability on it. Powell's comments also highlighted concerns about inflation, the job market, and economic growth, setting the stage for potential policy adjustments in the coming months.
Source: YAHOO