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Powell refutes claims that the September rate cut is related to the US election
US Rep. Mike Lawler asked Powell at a hearing on Wednesday: "Would a September rate cut, which investors currently see as about a 70% chance, be seen as a political move to try to change the campaign landscape ahead of the November 5 election?" Powell countered the claims, saying the Fed would make a rate decision "as necessary". "Our commitment is based on data, upcoming data, the changing outlook and winds...
2024-07-10 21:27:44
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