Powell: "More confidence needed" before rate cuts

On July 2nd, Federal Reserve Chairperson Jerome Powell said that the labor market remains strong, but considerable progress has been made on inflation, and the road to inflation is back on track. At the same time, Powell said that if the labor market unexpectedly weakens, it will also prompt us to take action. But he declined to comment on whether this means a rate cut in September. He said that the Fed has the ability to take the time to make the right decision (to cut rates), although he is well aware of the risks of "moving too slowly and too late".