Fed Chairman Powell is unlikely to announce interest rate cuts, according to DataTrek co-founder

According to BlockBeats, Nicholas Colas, co-founder of DataTrek Research, emphasized that Federal Reserve Chairman Jerome Powell is unlikely to announce interest rate cuts following this week's policy meeting. This approach reflects the pattern of his three predecessors, Alan Greenspan, Ben Bernanke, and Janet Yellen, who all ended their terms with a hawkish stance. Powell is continuing this tradition, aiming to maintain credibility against inflation and political independence as he leaves the position.

The market predicts that the Federal Reserve will hold interest rates steady in June and July. However, it may signal its intentions this week by adjusting economic forecasts and interest rates. Historical data shows that the S&P 500 index has averaged a 16% increase in the last 12 months of the previous terms of the three Fed chairs.