Fed mouthpiece: Powells speech did not change the expectation of no change in August

Odaily News Nick Timiraos, the Fed Mouthpiece, wrote in his latest article that Fed Chairman Powell said today that the recent slowdown in inflation and economic activity is largely in line with the Feds expectations, but he still refused to say whether this is a reason for the Fed to cut interest rates at its policy meeting later this month. The inflation report released last week showed a general improvement in the economy, which prompted some private analysts to wonder whether the Fed will need to wait until September to cut interest rates. It should be noted that the Fed led by Powell usually avoids surprising the market with short-term policy decisions, so from this perspective, Powells words today did not change the expectation that the Fed will keep interest rates stable at the August meeting. (Jinshi)