Powell said the U.S. economy is performing well, and the vast majority of Federal Reserve (FED) members expect a rate cut later this year. It is still too early to say whether considering a rate cut in July is premature. However, if the data is good, any rate cut in an upcoming meeting cannot be ruled out. In translation, it means either a rate cut in July or in September. The focus is on the implication that a rate cut in July is also possible, but as it stands, the likelihood of a rate cut in July is not very high, resembling the expectation management that Powell often uses.

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