There is hope for a rate cut, but it is hopeless in the short term. Powell still uses the same rhetoric to stabilize the market. As mentioned in the previous introduction, inflation is a basic problem in the United States.
The United States has been working hard for several months and has gradually achieved results. Subsequent rate cuts are not difficult.
At present, Powell emphasized that the Federal Reserve is now facing a "dilemma". Cutting interest rates too early may reignite the economy and cause inflation to be higher than the target level, while keeping interest rates too high may cause the labor market to cool down excessively.
He said:
The main risk we have faced for a long time is that we cannot achieve the inflation target. Now these two risks are balancing, and we are very clear that we are facing dual risks.
Although most of Powell's comments implied that it was only a matter of time before the rate cut, he repeatedly avoided questions from congressmen about the specific time. He said he would not send any signals about the timing of future actions.
The dot plot released last month showed that if inflation continues to slow and economic growth is solid but not overheated, most Federal Reserve officials expect to cut interest rates once or twice this year. The focus of the market is whether the Fed will send a stronger signal at the next meeting on July 30-31, suggesting that it may cut interest rates at the September meeting.
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