Bloomberg: The majority of that officials oppose a July interest rate cut ...Middle East

Fed Chair Powell testified that there is a possibility of a July cut, but he expects inflation from tariffs to be felt in June, July, and August. When the Fed meets at the end of July, the June inflation data will be known. One has to wonder even if it comes in tamer than expected, will it be enough to sway the majority of the Fed officials that there isn't more inflation to come in July and August.

Also working against a July rate cut is tariff increases going forward as a result of no trade deals between major countries. There are a lot of tariffs that have been put on hold from Pres. Trump.

This article was written by Greg Michalowski at www.forexlive.com.

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