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06:06And it seems that pillar is holding steady.
06:08So I think the need to lower rates.
06:11It has waned a little given the current situation.
06:16So I think the need to lower rates.
06:21Looking ahead, Powell indicated the bank will decide monetary policy meeting by meeting.
06:26The bank's mandate is to promote maximum employment and stable prices.
06:31After the three recent rate cuts, we're well positioned to address the risks that we faith in.
06:36We'll face on both sides of our dual mandate.
06:39Takahashi predicts the Fed will go.
06:41We'll be slow on further rate cuts as long as there is no political pressure.
06:46The Federal Reserve started to lower rates in 2024.
06:51Balancing between its two mandates, namely achieving maximum employment.
06:56And stabilizing prices.
06:58It has since cut rates by a total of around.
07:012%.
07:02And now the policy rate is pretty close to a level where.
07:06The rate does not stimulate or tame the economy, although it is not full.
07:11As long as we do not see the labor market worsening again in the near future.
07:16I think the Fed will keep its policy rate on hold for some time.
07:21Perhaps the bank will lower its rate one more time, sometime in the near future.
07:26In the middle of this year.
07:27But here's where things get cloudy.
07:31Paul's term as Fed chair is set to expire in May.
07:35And Trump's.
07:36said he'll nominate someone who supports rate cuts.
07:41The next Fed chair will most likely be someone who will want to lower rates following the
07:46policy of President Trump so I think that means the bank's decision makers
07:51will tend to lean toward more rate cuts than would be the case with the current members.
07:56But there will still be policy makers who will say the bank should not cut.
08:01So I think for a while there will be confusion at the Federal Reserve and
08:06certainty over its monetary policy.
08:09Takahashi predicts that eventually...
08:11members opting for more rate cuts will prevail.
08:13He says when that happens, you risk...
08:16could emerge for the economy.
08:20To end the mid...
08:21term elections, the Trump administration is implementing various measures to stimulate
08:25the economy.
08:26In addition to pressuring the Fed to lower rates.
08:29So that will increase the...
08:31risk of the economy being too strong.
08:34If the Fed policy makers go too far...
08:36make drastic cuts to the policy rate.
08:39Although it will not show up...
08:41in the short term, it could create conditions for future inflation.
08:45So I think we need...
08:46to keep these risks in mind.
08:50It's not just...
08:51the Wall Street pros watching the Fed anymore.
08:53Even casual traders know the outcome of the Fed...
08:56versus Trump showdown could reshape the global markets and the economy for years.
09:01to come.
09:02And now to the markets.
09:03Well, the yen is still volatile.
09:05A rally on the Japanese...
09:06currency is stalled...
09:07following remarks from the U.S. Treasury Secretary...
09:10indicating the government...
09:11and is not thinking of intervention.
09:13The pair declined...
09:14to the 150...
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09:25sold on concerns about global geopolitical risks.
09:27Jeff, the quote maker, Advantis, came out with...
09:30favorable earnings and that led to some buying.
09:32And to the rest of the region, the Jakarta Composite...
09:35ended down another 1%.
09:37But that was after slumping about 10...
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