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Powell Doesn't Rule Out a Fed Rate Cut in July

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Bloomberg Jul 2 00:10 · 19.2k Views

"I wouldn't take any meeting off the table," Federal Reserve Chair Jerome Powell says during a policy panel moderated by Bloomberg Television’s Francine Lacqua at the ECB Forum on Central Banking 2025 in Sintra, Portugal.

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Transcript

  • 00:00 A solid majority of FOMC participants do expect that it will
  • 00:04 become appropriate
  • 00:05 later this year
  • 00:06 to begin to reduce rates again.
  • 00:09 And so
  • 00:11 and
  • 00:12 that will depend though
  • 00:13 as Christine just mentioned on the incoming data we'll be monitoring particularly
  • 00:17 what does show up in terms of of inflation or what does not show up
  • 00:21 and also carefully watching the labor market.
  • 00:23 You know, there
  • 00:24 we watch very carefully for signs of of
  • 00:27 unexpected weakness.
  • 00:29 We see a gradual cooling, but we don't really see that yet.
  • 00:31 So those are the things we'll be watching.
  • 00:33 But as I mentioned, a majority of us do feel that we'll be appropriate in the remaining 4 meetings of the year to begin to reduce rates.
  • 00:39 Again, barring a real surprise.
  • 00:41 Is, is July just too soon to seriously even consider a rate cut?
  • 00:45 Yeah, Yeah, I really can't say.
  • 00:46 It's going to depend on the data and
  • 00:48 we we are going meeting by meeting.
  • 00:50 I mentioned
  • 00:52 you know how I'm thinking about that, but I wouldn't take any meeting off the table or put it directly on the table.
  • 00:58 It's going to depend on how the how the data evolved.