Powell sparks optimism on rate cuts

FILE PHOTO: U.S. Federal Reserve Chair Jerome Powell delivers remarks during a press conference, in WashingtonIt was a risk-on session in Asia, with European bourses poised for a similar start in the wake of comments by Fed Chair Powell , with investors buoyed by reinforced expectations that rate cuts are just around the corner in the U.S.

""We just want to understand that the levels that we're seeing are a true reading on what is actually happening with underlying inflation," Powell said at a conference in Portugal sponsored by the European Central Bank. Meanwhile, the ECB remains in no hurry to lower borrowing costs further after cutting rates last month, with data on Tuesday showing the crucial services component in euro zone inflation staying stubbornly high.

Linda Blackford: A new, more powerful Donald Trump is threatening you, Mitch McConnell, and thanks to your Supreme Court, his threats suddenly have a lot more gravity.Rep. Marjorie Taylor Greene held a news conference that was brutally crashed by protesters on Monday afternoon as she sought to rally support for Steve Bannon before he surrendered to start his four-month prison sentence.

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