On July 30th, local time, Federal Reserve Chairman Jerome Powell stated that it is still too early to make a definitive claim about whether the Federal Reserve will cut the federal funds rate as expected by financial market expectations in September.
During a press conference following the latest monetary policy meeting, Powell mentioned:
The Federal Reserve has not yet made any decisions regarding the interest rates for September.
Powell stated that they “will refer to economic information before the next interest rate meeting.”
The Federal Reserve concluded its two-day monetary policy meeting on July 30th, announcing that the target range for the federal funds rate will remain unchanged at 4.25% to 4.50%. (Cao Jian)