Powell releases the positive news of interest rate cut!
Previously, Fed Chairman Powell repeatedly emphasized that the Fed will consider cutting interest rates only when inflation falls to 2% + unemployment rate is higher than 4%.
However, at last night's hearing, Powell's attitude towards interest rate cuts loosened, saying that "although Fed officials are still committed to reducing inflation, they are also worried about unemployment; the Fed has made considerable progress in fighting inflation and does not need to wait until inflation falls to 2% before starting to cut interest rates."
At the same time, Powell's speech also showed that it is unlikely to cut interest rates at the interest rate meeting on July 30-31.
Powell's speech will enhance the market's expectations for the Fed's first interest rate cut in September, which is good for risk markets. , including: currency market