Powell rejects the possibility of a rate cut in July: no need to be too hasty

Gate News bot news, according to Jin10, The Federal Reserve (FED) Chairman Powell was asked whether he is prepared to cut interest rates again at the next meeting in July during his congressional testimony, Powell said: “I don’t want to point to any one meeting, I don’t think we need to be in a hurry.”

Republican Congressman Mike Lawler therefore pressuring Powell on why The Federal Reserve (FED) still chooses not to cut interest rates when inflation cools, echoing President Trump’s criticism of him.