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Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

2024-06-28 1804

(fxcue news) - Recent inflation data does suggest a disinflationary trend in the U.S. economy, but more evidence is needed before policymakers can cut interest rates, Federal Reserve Chair Jerome Powell said Tuesday. "We just want to understand that the levels that we're seeing are a true reading of underlying inflation," Powell said in a speech at a European Central Bank-sponsored central banking forum in Sintra, Portugal. The annual rate of increase of Fed's preferred measure of inflation, the core PCE, slowed to 2.6 percent from 2.8 percent in May, official figures showed last week. In June, the Fed left interest rates unchanged and projected just one rate cut for the rest of the year.

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Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

Indonesia Stock Market Tipped To Open In The Green

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U.S. Private Sector Employment Climbs Less Than Expected In June

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U.S. Weekly Jobless Claims Rise Slightly More Than Expected

Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

European Stocks Close Lower On Interest Rate Uncertainty

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Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

Indonesia Stock Market Tipped To Open In The Green

Sensex

U.S. Private Sector Employment Climbs Less Than Expected In June

U.S. Trade Deficit Widens Less Than Expected In May

Quest Diagnostics To Acquire LifeLabs From OMERS In About $985 Mln Deal

U.S. Weekly Jobless Claims Rise Slightly More Than Expected

Fed's Powell Says Policymakers Need More Evidence Before Rate Cut

European Stocks Close Lower On Interest Rate Uncertainty

Please sign in

Trader

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Take profit on all gold sell orders transactions

Buy gold to take profit and exit, buy cautiously, and focus on selling high.

Sell gold orders for profit, add lunch.

USDJPY profit taking profit

Profit taking from selling gold orders

Spot gold trading profits are eliminated, and today's trading is over.

The gold market is not suitable for chasing long positions, selling at high levels is the main strategy, and taking profits from selling orders is eliminated.

Gold sell orders take profit and exit, the entry point is not very good, continue to wait for opportunities.

Crude oil and gold trading took profit, earning $15751.

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