Powell refutes claims that September rate cut is related to US elections

Jinshi data news on July 11th, US Congressman Mike Lawler asked Powell at Wednesday's hearing, "Will the rate cut in September (currently believed by investors to be about 70% likely) be seen as a political act to change the election situation before November 5th?" Powell refuted the above statement, saying that the Fed would make Inrerest Rate decisions "when necessary." "Our commitment is to make decisions when necessary based on data, upcoming data, changing prospects, and risk balance, rather than considering other factors, including political factors. This is how we have always done it, including in election years... Everything we do will be evidence-based. For us, considering the election cycle when making Inrerest Rate decisions is inappropriate anyway."