Wall Street Breakfast: The Jerome Powell Show

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There weren't any fireworks from the Fed Chair yesterday, but Jerome Powell may set off some explosives this morning as he begins his testimony before the House Financial Services Committee. Starting at 10 a.m. ET, Powell is expected to talk about slowing economic activity and increased risks - showing that the Fed is ready to cut interest rates as needed - but he's likely to keep markets guessing about how soon and how deep the Fed intends to trim rates. The prevailing view, priced into the futures market, is for a 100% chance of a quarter point rate cut July 31.

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