Powell Signals Possible Rate Cut; Fed Minutes Show Concern About Outlook; Bank of Canada Holds

By Anonymous

Good day. Federal Reserve Chairman Jerome Powell signaled the central bank could lower interest rates as soon as this month during a House panel hearing Wednesday. Mr. Powell, who will testify before a Senate committee on Thursday, also said he wouldn’t leave his office if President Trump tried to replace him. Meanwhile, newly released minutes from the Fed’s June policy meeting showed officials were prepared to cut rates if the economic outlook didn’t brighten. And the Bank of England warned that falling overseas investment into some British assets due to Brexit poses a risk to the country’s economy.