Federal Reserve Chairman Powell will deliver a semi-annual monetary policy report, possibly urging patience on interest rate cuts

ChainCatcher news, Federal Reserve Chairman Jerome Powell will deliver a semi-annual monetary policy report to Congress. Brown Brothers Harriman Bank stated that it is expected that Powell will continue to urge people to be patient before the Fed eases its monetary policy. He pointed out last week that the latest data indeed shows we are returning to the path of anti-inflation, and emphasized "a strong economy and job market give us the ability to wait patiently before starting to cut interest rates." Analysts said: "Although the US economy has slowed down, its performance is still good, so the Fed will remain cautious and stand still at the FOMC meeting at the end of July. The market expects less than a 10% chance of cutting interest rates by then, while there's about an 80% chance for a rate cut in September, almost unchanged from before non-farm employment data was released."