Powell: A rate cut is possible if the data supports it.

On May 8, The Federal Reserve (FED) Chairman Powell stated on Wednesday local time that the monetary policy outlook may include a drop in short-term interest rates. He mentioned at a press conference that the outlook “may include” rate cuts or maintaining stable rates, which specifically depends on the economic situation. The fluctuations in GDP data will not really change our situation. Furthermore, Powell stated, “I have never asked to meet with the president, and I will never do so.” ( Jin10 )

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