Federal Reserve Chairman Powell will deliver the semiannual monetary policy report and may urge patience regarding interest rate cuts

ChainCatcher news, Federal Reserve Chairman Powell will present the semiannual monetary policy report to Congress. Brown Brothers Harriman Bank stated that Powell is expected to continue urging people to be patient before the Fed eases monetary policy. He pointed out last week that the latest data does indicate we are returning to a path of anti-inflation, and emphasized that "the strong economy and job market allow us to wait patiently before starting to cut rates." Analysts said: "Although the U.S. economy is slowing, it is still performing well, so the Fed will remain cautious and hold steady at the FOMC meeting at the end of July. The market expects the chance of a rate cut at that time to be less than 10%, while the chance of a rate cut in September is around 80%, almost unchanged from before the non-farm payroll data was released."