[ING: If Powell hints at interest rate cuts, the dollar may fall further] ING analyst Francesco Pesole stated in a report that if Federal Reserve Chairman Powell hints at further interest rate cuts during his testimony to Congress tonight at 10 PM, the dollar may fall further. He mentioned that after support from Federal Reserve Board of Governors Waller and Bowman for a potential rate cut as early as July, the risk of Powell signaling a rate cut has increased. The market may interpret any change in Powell's cautious stance on interest rate cuts as a sign that the pressure from Trump to lower rates has "broken through the Federal Reserve's independence shield." This could lead to a significant depreciation of the dollar.
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ING: If Powell hints at a rate cut, the dollar may fall further.
[ING: If Powell hints at interest rate cuts, the dollar may fall further] ING analyst Francesco Pesole stated in a report that if Federal Reserve Chairman Powell hints at further interest rate cuts during his testimony to Congress tonight at 10 PM, the dollar may fall further. He mentioned that after support from Federal Reserve Board of Governors Waller and Bowman for a potential rate cut as early as July, the risk of Powell signaling a rate cut has increased. The market may interpret any change in Powell's cautious stance on interest rate cuts as a sign that the pressure from Trump to lower rates has "broken through the Federal Reserve's independence shield." This could lead to a significant depreciation of the dollar.