Powell: Fed won't wait for 2% inflation to cut rates

03:59

More Videos

Kosovo still searching for loved ones three decades after the war

Will justice ever be served for Kosovo war victims?

Ghana’s president: We must end Africa’s “dependency syndrome”| Bigger Than Five Promo

Ghana’s president: We must end Africa’s “dependency syndrome” | Bigger Than Five

Connecting Europe & Asia: Uzbekistan’s Digital Silk Road | NexTech

Five years on, has the world abandoned Afghan women? | Bigger Than Five Promo

Five years on, has the world abandoned Afghan women? | Bigger Than Five

Uzbekistan's high-tech bet: The new Digital Silk Road

Does Trump regret the Iran War? | Inside America

Dua Lipa and her father, Dukagjin Lipa keep Sunny Hill Festival thriving

Powell: Fed won't wait for 2% inflation to cut rates

Financial markets were mixed on Tuesday after Federal Reserve Chair Jerome Powell's dovish comments sent Wall Street higher. Fed Chair Powell said on Monday that the central bank will not wait for inflation to fall to 2-percent to cut interest rates, and that inflation readings over the second quarter added somewhat to confidence that the pace of price increases is on track to returning to the Fed's target. That sent down the dollar to a five-week low against a basket of currencies. Meanwhile the rising prospect of Donald Trump returning to the White House sent cryptocurrencies soaring, with Bitcoin advancing towards 65-thousand dollars as Trump announced pro-crypto JD Vance as his running mate on Monday.