Federal Reserve Chairman Powell Refuses to Reveal Whether Interest Rates Will Be Cut at July Meeting

According to Jin Ten Data, Federal Reserve Chairman Powell was asked during his testimony in Congress whether he was prepared to lower interest rates at the July meeting, and he declined to give a clear answer. Powell stated, 'I don't want to point to any one meeting. I don't think we need to rush into this.'

Republican Congressman Mike Lawler questioned why the Federal Reserve wouldn't lower interest rates in the face of cooling inflation, similar to President Trump's criticisms of the Fed Chairman.