Reported about 1 year ago
Federal Reserve Chair Jerome Powell is expected to address lawmakers about the need for more evidence of slowing inflation before considering interest rate cuts, despite signs of softer growth and employment. Data on unemployment and economic growth will likely prompt questions on why the Fed is hesitant to lower borrowing costs. Powell has mentioned that recent data shows inflation coming down, emphasizing the need for continued progress. June's consumer price index is anticipated to show modest increases, with market watchers predicting enough soft inflation prints in the coming months to prompt rate cuts by September. Other global highlights include inflation data from China and Sweden, and market reactions to France’s parliamentary election runoff.
Source: YAHOO