Fed chief: rate cut likely sometime this year

Federal Reserve Chairman Jerome Powell said that our policy rate may have reached its peak, at some point this year "to begin to ease policy is appropriate, but the outlook is uncertain, we remain concerned about the risks, if necessary, ready to keep rates high for a longer period of time; we will carefully assess the published data to determine policy; before we cut interest rates, we need to have greater confidence in the continued decline of inflation confidence; our forecast is not a plan, we will adjust according to the situation. Federal Reserve Chairman Jerome Powell said that a slowdown in balance sheet reduction was discussed at this meeting; it is appropriate to slow the pace of tapering soon; slowing down tapering will ensure a smooth transition, reduce pressure on the currency markets, and will limit the risk of volatility in the currency markets