Fed mouthpiece: Powell's speech did not change the expectation of "no change" in August

Nick Timiraos, the "Federal Reserve mouthpiece," wrote in his latest article that Fed Chairman Powell said today that the recent slowdown in inflation and economic activity is largely in line with the Fed's expectations, but he still refused to say whether this is a reason for the Fed to cut interest rates at its policy meeting later this month. Last week's inflation report showed a general improvement in the economy, which prompted some private analysts to wonder whether the Fed needs to wait until September to cut interest rates. It should be noted that the Fed led by Powell usually avoids surprising the market with short-term policy decisions, so from this perspective, Powell's words today did not change the expectation that the Fed will keep interest rates stable at the August meeting. (Jinshi)