🚨 SUMMARY OF FED CHAIRMAN POWELL'S WORDS (July 9, 24)

1. Powell signals that the Fed is in no hurry to cut interest rates.

2. Powell said policymakers remain mindful of the risks posed by inflation and don't want to ease it too early or too much.

3. Powell added that too little and too late easing of inflation could 'unduly weaken the economy'.

4. Powell noted again that 'more and better data' is needed to bolster confidence that inflation is moving sustainably toward 2%.

5. Powell mentioned that the labor market remains strong and the economy is expanding at a solid pace.

Powell reinforced the view that the Fed is not yet ready to start easing monetary policy and that an interest rate cut in September may be too soon. The Fed needs more data before it starts cutting interest rates.

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