Can Powell take control of the doves tonight?

by Chris Becker

Fed Chairman Powell is testifying before Congress tonight AEDT on the state of the US economy and invariably, markets will hang on his words surrounding further interest rate cuts. At the moment, the probability of a cut at the July meeting remains at 100%, with a 94% chance of being lowered by 25 basis points.

The consensus view is he’s going to thwart the doves:

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