Federal Reserve Chairman Powell Rubber-Stamps 25bp Cut for July 2019 – Gold Silver Reports

Federal Reserve Chairman Powell’s first day of his two-day testimony to Congress. Powell was advocating for a rate cut which weighed on both the greenback and US yields. He argued that the jobs report has done little to change the Fed’s outlook and that was essentially taken by the market as a rubber stamp for at least a 25pb cut this month as investors get set of r the U.S. Consumer Price Index due today in New York’s session. The FOMC Minutes did not give anything new to trade from.

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