Federal Reserve Chairman Powell: Interest rate cuts do not have to wait until inflation reaches 2%, but the confidence in curbing inflation is still not enough. The neutral interest rate has risen.

However, Powell stated that the Federal Reserve does not need to wait until inflation falls below 2% to lower interest rates, because if they wait too long, inflation may drop too low and lowering interest rates too late or too little may inappropriately weaken economic activity and employment, which is not what the Federal Reserve hopes to see. Powell also said that he has never had substantive communication with US President Biden in the past two years, and has not detected any mental or cognitive decline in him before.

wallstreetcn3minutes ago

The first decline in September, US stocks have risen by 5% this year... Powell's second day of bravery on Capitol Hill! The survey shows how the market will go from here.

Federal Reserve Chairman Powell entered the second day of "braving" Capitol Hill.

Zhitong FinanceJul 10 21:15

US Stock Market Preview | Three major futures prices rose before trading! Powell returns to Capitol Hill tonight; JPMorgan warns: market turmoil is coming on Thursday.

Growth tech stocks rose across the board before the market opened, with Nvidia and Taiwan Semiconductor rising by about 2%; Bitcoin exceeded $59,000 per coin intraday, and digital currency concept stocks rose across the board; Competition is fierce! Tesla's market share in the United States fell below 50% for the first time.

Futu NewsJul 10 20:16

Daily options tracking | Stock price rose ten days in a row to a new high for the year! Tesla's major shareholder bought US$0.2 billion in call contracts; self-driving mode is expected to make a profit, and Baidu earned 73 times with one call contract.

In the past 10 trading days, Tesla has risen nearly 44%, with a slightly increased volatility of 70.5%, reaching a one-year high. The trading volume increased by 15% compared to yesterday, reaching 3.32 million shares. The call option with an exercise price of $270 and expiring on Friday has the highest trading volume, with 0.2 million shares, and the open interest is 0.022 million.

Futu NewsJul 10 16:40

Yellen is confident that US inflation will continue to decline, while Wall Street is full of doubts about Trump 2.0 policies.

Analysts are worried that if Trump takes office, all current inflation forecasts will fall apart, which also makes the Federal Reserve cautious.

cls.cnJul 10 12:33

Believe that a rate cut is coming soon! The long position of U.S. bonds increases every day in July.

Is the Fed's interest rate cut really a good thing that is about to happen? Although Fed Chairman Powell was reluctant to reveal too many details in his testimony on the first day of his trip to Capitol Hill this week, investors in the US bond market seem to be ready for it: more traders are betting that the US bond market will continue to rise.

cls.cnJul 10 09:27