🚨TODAY'S SURPRISE: ❗️POWELL ANNOUNCES INTEREST RATE CUTS MAY COME SOON 😲
📜According to a surprising statement from Federal Reserve Chairman Jerome Powell during today's press conference, interest rate cuts could “appear as soon as the coming months” to support economic growth, which is under pressure from high inflation and declining consumer confidence. Mr. Powell emphasized: “We are seeing many signs that growth may slow down and will be ready to lower interest rates when economic data allows.”
📜This move comes at a time when the U.S. economy is recording a lower-than-expected growth rate in the second quarter, while the stock market continues to fluctuate due to concerns about the global economic outlook. Experts believe that lowering interest rates will help reduce borrowing costs, stimulate investment, and encourage spending, but it also poses the risk of pushing inflation back up.
📜Meanwhile, from the White House, President Donald Trump announced that he will unveil the list of candidates for the new Fed Governor position this week. This decision is seen as an important step in the effort to “strengthen the monetary policy-making apparatus” that he is aiming for ahead of the elections. The rumored candidates all have views supporting growth-friendly policies and prioritize inflation control less, leading to considerable debate about the future of U.S. monetary policy.
