XAUUSD: Fed Chairman: No signs of interest rate cuts in the shor

Patrick Harker, President of the Philadelphia Fed, stated:

At the most recent FOMC meeting, supported a steady interest rate approach.There are no immediate plans by the Fed to lower interest rates, so they will remain high for longer.It's time to evaluate the effects of previous interest rate rises.Depending on the statistics, the Fed may decide to raise or maintain interest rates in the future.A better equilibrium is being reached in the labor market.In 2024, the unemployment rate will increase to 4.5% before declining.Assured of a gentle landing
Though not yet in a recession, growth may slow
After steadily declining to 3% in 2024, inflation drops to 2%.