Powell has rejected the possibility of a rate cut in July
2025-06-24 15:42:17
Asked whether the Fed was prepared to cut interest rates again at its next meeting in July, Fed chairperson Jerome Powell rejected the question in congressional testimony. "I don't want to point to one meeting," Mr. Powell said. "I don't think we need to rush it." Republican congressman Mike Lawler pressed Mr. Powell on why the Fed did not choose to cut rates even as inflation cooled, echoing President Trump's criticism of the Fed chairperson.
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