FOMC Press Conference

FOMC Press Conference is scheduled for July 31 at 2:30 PM ET /August 1 at 2:30 AM SGT/August 1 at 4:30 AM AEST. Subscribe to join the live NOW! Chair Jerome Powell stated that the Fed needs greater confidence in inflation dropping to 2% before cutting rates. The CME FedWatch Tool shows over a 90% chance that the Fed will keep rates unchanged at its July meeting. Powell mentioned on June 12 that, with current data, they are prepared to maintain the current target range if inflation persists. Thus, mortgage rates and national savings rates are unlikely to drop in July.