"Traders Remain Optimistic on US Rate Cut Despite Powell's Pushback"

Traders are increasing their bets on a US interest rate cut despite Federal Reserve Chairman Jay Powell's pushback against such expectations. Market participants are pricing in a 100% chance of a rate cut in July, as concerns over global growth and trade tensions persist. Powell, however, emphasized the Fed's independence and stated that the central bank would act as appropriate to sustain the economic expansion, but did not explicitly signal an imminent rate cut.