According to BlockBeats, Federal Reserve Chair Jerome Powell stated on July 16 that the economy has performed well over the past few years. He anticipates that economic growth will slow down this year, while inflation will continue to make progress. Powell noted that the recent three inflation data points have indeed boosted confidence.
Powell emphasized that no specific signals will be given regarding any particular meeting today. Decisions will be made based on evolving data and outlooks. With inflation now decreasing, the focus will shift to the Federal Reserve's dual mandate. Powell also mentioned that if the Fed waits until the inflation rate reaches 2% before cutting interest rates, it would be waiting too long.
