According to PANews, Jerome Powell's recent statements suggest that the Federal Open Market Committee (FOMC) is unlikely to cut interest rates at their meeting at the end of this month. Despite fluctuations, U.S. Treasury yields have risen during the day following the release of Powell's testimony. The S&P 500 Index has maintained its upward trend.
Traders are predicting a slightly over 70% chance that the Federal Reserve will make its first rate cut in September. They are also forecasting two 25 basis point cuts in 2024. These predictions come amidst ongoing discussions about the state of the U.S. economy and the potential need for adjustments to monetary policy.