Fed Chairman Powell will deliver his semi-annual monetary policy report to Congress, and may continue to urge people to be patient with interest rate cuts

According to TechFlow, Federal Reserve Chairman Powell will deliver a semi-annual monetary policy report to Congress. Brown Brothers Harriman Bank said that Powell is expected to continue to urge people to be patient before the Fed relaxes monetary policy. He pointed out last week that the latest data does show that we are back on the anti-inflation path, and emphasized that "the strong economy and job market give us the ability to wait patiently before starting to cut interest rates."

Analysts said that although the US economy is slowing down, it is still performing well, so the Fed will remain cautious and keep its policy unchanged at the FOMC meeting in late July. The market expects the probability of a rate cut to be less than 10% by then, and the probability of a rate cut in September is around 80%, almost the same as before the release of non-farm payrolls data.