Fed's Powell: Recent credit stress eases pressure to hike interest rates

hike interest rates. "Our policy rate may not need to rise as much as it would have otherwise," Powell added.

The US dollar tumbled during Powell's remarks as market participants eased rate hike expectations for the June FOMC meeting and increased bets of rate cuts by year-end. The US Dollar Index tumbled to 103.00,Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

Source: Financial Digest (financialdigest.net)

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