Powell: Can't say if Fed will consider rate cuts in July - Breaking The News

Powell: Can't say if Fed will consider rate cuts in July

1 July

1 min read

EPA-EFE/SARAH YENESEL

United States Federal Reserve Chair Jerome Powell refused to give a definitive answer when asked on Tuesday whether July is too soon for the bank to start considering interest rate cuts.

Participating in a panel at the ECB Forum, he repeated that any monetary policy move will depend on the incoming data. The Fed chair added that "a solid majority" of the Federal Open Market Committee (FOMC) participants believe that it would be appropriate to lower rates again "later this year."

At the moment, the US central bank is "modestly restrictive at this level," Powell stated.

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