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TechFlow news, according to Jinshi, Powell's remarks indicate that the FOMC is unlikely to cut interest rates at its meeting later this month. After the release of Powell's testimony, U.S. Treasury yields fluctuated but rose during the day, while the S&P 500 maintained its upward trend. Traders expect slightly over a 70% chance of the Fed's first rate cut in September, and anticipate two rate cuts of 25 basis points each in 2024.
According to Jinshi, Powell's remarks indicate that the FOMC is unlikely to cut interest rates at its meeting later this month. After the release of Powell's testimony, U.S. Treasury yields fluctuated but rose during the day, while the S&P 500 maintained its upward momentum. Traders expect a slightly above 70% chance of the Fed's first rate cut in September, and anticipate two rate cuts of 25 basis points each in 2024.
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