Powell rejects the possibility of interest rate cuts in July
Internet reported that when asked whether the Fed was preparing to cut interest rates again at its next meeting in July, Fed Chairman Powell rejected the question in testimony before Congress. Powell said: "I don't want to point out a particular meeting. I don't think we need to rush it." Republican Rep. Mike Lawler put pressure on Powell on why the Fed did not choose to cut interest rates even as inflation cooled, which echoed President Trump's criticism of the Fed chairman.
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