Powell Rejects Rate Cuts for June, Market Optimism Shifts

Federal Reserve Chair Jerome Powell ruled out any interest rate cuts at the June meeting, contradicting market expectations and causing ripples across financial markets. This unexpected decision came amid persistent inflation concerns and macroeconomic uncertainty. Experts like Bill Dudley, former New York Fed president, caution against premature optimism regarding imminent rate cuts. Powell’s stance signifies a cautious approach to monetary policy, impacting both traditional and crypto markets as uncertainty intensifies.