Summary of key points from Fed Powell's Hearing today:

👉 The labor market remains strong, the economy is still stable; if both are strong, a rate cut will not occur (it will be difficult for this to happen when current interest rates are still high, along with Trump's taxes)

👉 A recession in the United States is unlikely to occur

👉 The reason we (the Fed) are not cutting interest rates at this time is that economic forecasts both inside and outside the Federal Reserve indicate that inflation will rise significantly this year.