You can read the full story here: Federal Reserve Chair Jerome Powell Testifies: No Rush to Cut Rates, but Rate Hikes Unlikely This Year.
The Federal Reserve Chair, Jerome Powell, testified before congressional lawmakers on Wednesday, stating that there is no rush to cut interest rates. This news comes as Americans have already experienced almost two years of rising borrowing costs, affecting car loans and mortgages. However, Powell also mentioned that rate hikes are unlikely to occur this year. … Read more