GOP Senator Tim Scott Says He Spoke To Jerome Powell And Fed Chair Foresees Inflation Coming Down: 'Prospect Of Rate Cuts...Are Going Up'

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Sen. Tim Scott (R-S.C) anticipates a potential decrease in inflation, which could lead to an increase in rate cuts, following a discussion with Federal Reserve Chairman Jay Powell. On Tuesday, Scott mentioned about his recent conversation with the Federal Reserve Chairman Jay Powell during CNBC’s “Squawk Box.” Scott indicated that Powell foresees a decline in inflation, which could subsequently increase the likelihood of rate cuts.

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