TechFlow news, according to Jinshi Data, Federal Reserve Chair Powell will deliver the semiannual monetary policy report to Congress. Brown Brothers Harriman Bank said it expects Powell to continue urging patience before the Fed eases its monetary policy. Last week, he noted that recent data indeed indicate a return to the disinflationary path and emphasized that "a strong economy and labor market give us the ability to be patient before beginning to cut rates."
Analysts say that although the U.S. economy is slowing, it remains solid, so the Fed will stay cautious and likely hold steady at the FOMC meeting at the end of July. The market currently prices in less than a 10% chance of a rate cut at that meeting, and about an 80% chance for a cut in September—nearly unchanged from levels before the nonfarm payrolls data release.
