Attention everyone! Breaking news! Focus on the hearing of Federal Reserve Chairman Powell this week

Federal Reserve Chairman Powell will face pressure this week from lawmakers who are eager for the Fed to cut interest rates and many lawmakers are unhappy with his plan to increase the capital of Wall Street banks.

Powell will go to Capitol Hill on Tuesday and Wednesday for semi-annual monetary policy testimony. This hearing is Powell's last public speech before the US presidential election, and he may have to defend the Fed's adherence to tight policies and its claim to be independent of politics.

Fed officials in June lowered their estimates of the number of rate cuts this year, indicating that they will keep interest rates at a 20-year high and wait for more evidence that inflation is converging on the 2% target. Powell reiterated this message in his comments last week and declined to specify when he would start to cut interest rates.

Recent data showed that the Fed's preferred inflation measure slowed in May after volatility at the beginning of the year, and the market expects that another inflation measure, CPI data released on Thursday, will show that the core CPI recorded the smallest two-month increase since last August.

However, the labor market is also cooling, and some Fed officials have begun to warn about the risks of a further slowdown. Although nonfarm payrolls growth remained strong in June, it was concentrated in the healthcare and government sectors, while previous months were revised lower. The unemployment rate rose to 4.1%, the highest since the end of 2021. #美联储何时降息？ #美国6月非农数据高于预期 #币安合约锦标赛 #德国政府转移比特币 #BTC下跌分析 $BTC $ETH $BNB