Institution: The Fed may have to wait until December to cut interest rates

Odaily Planet Daily News The dollar edged higher after Federal Reserve Chairman Powell maintained a cautious stance on rate cuts. Powell appeared to pour cold water on the prospect of a rate cut in July when testifying before Congress on Tuesday, rejecting President Trump's call for lower interest rates. Pepperstone strategist Michael Brown said in a report that the Fed may have to wait until December to cut interest rates, and will only cut interest rates by 25 basis points this year. (Jinshi)