Powell remains silent on whether the Fed will cut interest rates in September

Powell avoided the question of whether the Fed will start cutting interest rates in September. He stuck to his consistent view that monetary policy is a two-way risk. Cutting interest rates too early could reignite inflationary pressures, while if it is too late, the Fed could cause unnecessary damage to the economy. The market expects the probability of a rate cut by September to be about 70%.

Powell's ambiguity should be expected by everyone, at least we have to see the non-agricultural data. The market will not change much, and it will go the same way today.