Fed Chairman Powell Hints At Interest Rate Cut; Stocks Rally Stocks rallied Wednesday as Federal Reserve Chairman Jerome Powell testified about challenges facing the U.S. economy, adding to expectations that the central bank will cut interest rates later this month. The Fed had hinted at such a cut in June. "The bottom line for me is that the uncertainties around global growth and trade continue to weigh on the outlook," Powell told members of the House Financial Services Committee on Wednesday. "In addition, inflation continues to be muted." Cut taxes, cut interest rates, who fucking cares it doesn't matter. Everything is fine! Free money for everyone... except you know, actually poor people! What the hell is going on here? Are Republicans just trying to fluff the numbers during an election year? Or is the new Fed chair really cutting rates because Trump whined about it? Is there something more sinister they're plotting? Does this mean I'm going to have to refinance?