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Powell rejected the possibility of a rate cut in July
OdailyOdailyDaily News When asked whether The Federal Reserve (FED) is prepared to cut interest rates again at the next meeting in July, Federal Reserve (FED) Chairman Powell refused to answer the question during his congressional testimony. Powell said, "I don't want to point to a particular meeting. I don't think we need to be hasty." Republican Congressman Mike Lawler pressured Powell on why The Federal Reserve (FED) is not choosing to cut interest rates despite cooling inflation, echoing President Trump's criticism of the Federal Reserve (FED) Chairman. (Jin10)