ING: If Powell Hints at Rate Cuts, the Dollar May Fall Further
Bitget2025/06/24 09:55According to a report by Jinse Finance, ING analyst Francesco Pesole stated that if Federal Reserve Chair Jerome Powell hints at further rate cuts during his testimony before Congress at 10 p.m. tonight, the US dollar may decline further. He noted that after Fed Governors Waller and Bowman supported the possibility of rate cuts as early as July, the risk of Powell signaling a rate cut has increased. Any shift in Powell’s cautious stance on rate cuts could be interpreted by the market as a sign that pressure from Trump to lower rates has “breached the Fed’s shield of independence.” This could lead to a significant depreciation of the US dollar.
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