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Federal Reserve Chairperson Powell's testimony yesterday was not overly optimistic, but it reignited expectations that interest rates should be cut sooner rather than later. Inflation is no longer the only threat to the US economy, and the job market will be just as important... > >
Interest rate strategist Ira Jersey said there wasn't much new in Powell's testimony, but it did underscore how data-dependent the Fed is. September is the likely point for a rate cut, but there is still a huge risk of being accused of helping Democrats (before the election). At the same time, many investors are concerned that inflation is still too high. Personally, I don't think the urgency of a rate cut is high. But once the Fed does start cutting rates, they will want to continue, and probab...
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