Fed megaphone: Powell's speech did not change the expectation of "holding steady" in August

On July 16, Jinshi data reported that Nick Timiraos, the "megaphone of the Federal Reserve," wrote in his latest article that Federal Reserve Chairman Powell said today that the recent slowdown in inflation and economic activity largely coincides with the Fed's expectations. However, he still refused to comment on whether there is any 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, prompting some private analysts to question whether the Fed needs to wait until September to cut interest rates. It should be noted that the Federal Reserve led by Powell usually avoids surprising the market in short-term policy decisions. Therefore, from this perspective, Powell's words today did not change the expectation that the Fed will maintain the Intrerest Rate stability at the August meeting.