Important news!!!

Important news!!!

Important news!!!

Federal Reserve Chairman Powell said that more positive economic data will boost confidence that inflation is steadily approaching the Fed's 2% target, and recent data show that price increases have become moderate. At the Senate hearing, Powell warned that if interest rate cuts are not timely or too small, they will pose a threat to the economy and the labor market. He emphasized that rising inflation is not the only risk, and policy easing too late or insufficiently may also weaken economic activity and employment, and even hinder or reverse the trend of falling inflation. Powell's remarks implied that the Federal Open Market Committee (FOMC) is less likely to cut interest rates at its end-of-month meeting. Although U.S. Treasury yields fluctuated, they were generally higher during the day, and the S&P 500 index continued to rise after Powell's testimony. The market expects the probability of the Fed's first rate cut in September to be slightly higher than 70%, and expects two 25 basis point rate cuts in 2024.

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