Powell: cutting rates too late could unduly weaken economy
Federal Reserve Chairman Jerome Powell said that if the economy remains solid, interest rates will be kept unchanged if necessary; ready to respond if the labour market unexpectedly weakens; too late to cut interest rates may overly weaken the economy; has not yet made any decisions on future meetings, including the September meeting.
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After the sharp decline in tech stocks, the White House suddenly canceled the top tech advisor meeting the following day.
The White House has canceled the previously scheduled President’s Council of Advisors on Science and Technology meeting, which was set for Friday and includes prominent tech leaders such as Nvidia CEO Jensen Huang and Meta CEO Mark Zuckerberg. The Department of Energy's meeting page briefly listed November 13 as the new meeting date, but the agency later sent an email retracting this information. Currently, the specific date for rescheduling the meeting remains unclear.
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