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Fed Chairman Jerome Powell strongly hints a rate cut is coming

Jul 10, 2019 - CNN

WASHINGTON (CNN Business) -- Federal Reserve Chairman Jerome Powell on Wednesday strongly hinted at a potential rate cut later this month, citing unresolved trade tensions and worries over the weakness of the global outlook.

In prepared testimony ahead of his first appearance on Capitol Hill, Powell told House lawmakers that since the Fed's last interest-rate policy-setting meeting in June, two of the major forces that have the potential to drag down the US economy remain a concern.

"It appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the US economic outlook," Powell will say at the hearing, according to his prepared remark...