#MarketRebound 🔥 Jerome Powell, Chairman of the U.S. Federal Reserve, confirmed that the U.S. economy is not currently facing a recession, while also indicating that the central bank is ready to lower interest rates if indicators supporting this trend emerge in the near future.
🔥 In his testimony before the U.S. Congress today, Tuesday, Powell said: "The United States is not in a state of economic recession," adding that economic data does not reflect a sharp slowdown or a contraction in overall activity, but he noted that the bank is closely monitoring developments.
🔥 The possibility of lowering interest rates in case of slowing inflation or a decline in the labor market.
🔥 The Federal Reserve Chair stated that there is a possibility that the inflation rate may come in below expectations in the coming months, and if that does indeed happen, it "would be appropriate to start lowering interest rates early."
🔥 He added: "Also, if we witness a clear decline in the labor market, that would also be an incentive to lower interest rates sooner."