🆘🚨 Summary of key points in last night's speech by Fed Chairman Powell: there is still only room for a 0.25 interest rate cut by the end of the year 🆘🚨
The FED Chairman answered the question: is there a possibility of cutting interest rates in a few weeks?
Summary is:
1. More good data is needed to strengthen the Fed's ability to cut interest rates and strengthen the belief that inflation will reach the 2% mark in a sustainable way.
2. He also worries and warns that maintaining interest rates for a long time will weaken the economy and jobs.
3. In the report sent to Congress before the hearing, the Fed warned that price pressure is decreasing, especially in the housing market, the main cause of inflation.
4. The PCE index barely edged up in May and inflation data came in lower than expected in May
5. He believes the unemployment rate remains low at 4.1%
