Powell left the Fed’s options open on when the central bank will cut interest rates, which markets are pricing in as likely for September.
Here are the key takeaways from Federal Reserve Chair Jerome Powell’s testimony before the Senate Banking Committee in Washington Tuesday:
— Powell left the Fed’s options open on when the central bank will cut interest rates, which markets are pricing in as likely for September.
He told senators he doesn’t expect the next move will be a hike but declined to give any timetable for cuts. “I’m not going to be sending any signals about the timing of future actions.
