Market 02/11: Powell Says No Rush to Cut Interest Rates

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Powell speaks before Congress:

• FED does not need to rush to cut interest rates

• Too early to assess the impact of import tariffs

• Interest rates rise due to bond supply

  • That is, the government is issuing too much debt

• Feels worried about the number of reports on “debanking”

  • That is, bank accounts closed for political reasons

• DOGE has not yet requested changes or audits of the FED system

• Treasury's payment system is operating normally

→ Not many surprises in Powell's statements