After Powell's inflation warning, the 10-year Treasury note yield fell to 4.0981%, and the 30-year bond yield decreased to 4.2526%. Powell will conclude his testimony with an appearance before the Senate Banking Committee on Thursday.
Powell reiterates that rate cuts should happen this year
By Kevin Smith
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During its testimony today, Jerome Powell, the Chair of the Federal Reserve, suggested that interest rate cuts are likely this year if the economy performs as expected. As a result, the three main U.S. stock indexes opened in the green. Speaking to the House Financial Services Committee, Powell cautioned that the fight against inflation is ongoing.
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