Powell Heads to Congress With Fed Cut in Play: Testimony Preview | Metals Mine

  • Powell Heads to Congress With Fed Cut in Play: Testimony Preview

    From bnnbloomberg.ca

    Jerome Powell is likely to leave Federal Reserve interest-rate cuts firmly on the table when he appears before Congress this week, even though the latest U.S. jobs report dialed down the urgency to ease borrowing costs. The Fed chairman, who has been hectored for months by President Donald Trump for not cutting rates, will probably repeat language from the Federal Open Market Committee’s June statement that it will “act as appropriate’’ to sustain the economic expansion -- reinforcing bets the central bank will cut at its July 30-31 meeting. Powell gives his semiannual monetary policy testimony at 10 a.m. ... (full story)

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auricforecas
Jul 9, 2019 2:59pm
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I wonder if he/they resist the pressure for TURBO BOOST (for no reason than to stimulate the votes...
There is absolutely no real base for the cut, not the short-term and specially not for the long-term, if they know what they are doing. On the good (balancing) side is that maybe if they CUT it a little, .25 or so... the ECB follows/cancels/neutralises the effect, so all good...

I wonder how they will decide, but almost no matter what they do... market will follow the natural lines, if my price prediction model of 10 years is (still) of any use.... and it shows, quite firmly... slow USD rise for the whole summer and to at least some fall... Or EURUSD (slow) downtrend, to be precise... The most that they can do with this "rather not use the word" interventions... is to ALTER it temporary, but the market almost always finds its way or eventually... but the correction is much much harder than..

So I would suggest to let market BE, do not CUT!
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daveikebom
Jul 11, 2019 7:35am
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Quoting Mitiblotch
Useless forecasters. All they want is to herd the market in the wrong direction. Keep your good for nothing forecasts to yourself.

it does'nt matter if the cut is necessary or not the fact is that donald trump want a cheaper dollar so it be, sooner or later Powell will have no other choice than follow the desire of trump so i'm just waiting for the cut if not at the end of this month i'm pretty sure that it will be done by the end of the year
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Mitiblotch
Jul 9, 2019 3:20pm
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Useless forecasters. All they want is to herd the market in the wrong direction. Keep your good for nothing forecasts to yourself.
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andriyog
Jul 11, 2019 8:01am
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Quoting daveikebom
{quote} it does'nt matter if the cut is necessary or not the fact is that donald trump want a cheaper dollar so it be, sooner or later Powell will have no other choice than follow the desire of trump so i'm just waiting for the cut if not at the end of this month i'm pretty sure that it will be done by the end of the year
cheaper usd higher gold cmiw?
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tstromer
Jul 10, 2019 7:02am
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Feds need to cut rates already.
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