Peter Cardillo, chief market economist at Spartan Capital Securities in New York, said that if inflation persists for another month or two, the Federal Reserve may not cut interest rates again this year. Today's data confirms that inflation remains an issue and, apparently, it supports the Fed's cautious stance in cutting interest rates, Peter said. The prospect of tariffs has also heightened concerns about inflation. Precious metals are coming under pressure due to a stronger dollar and rising yields, while stocks are essentially falling. If this continues for another month or two, it could mean that the Fed is likely to keep interest rates on hold for the rest of the year. Powell made it clear that they will stick to their dual mandate and that they will not be bullied by any politician. There is nothing Trump can do, will he pressure the Fed? Yes. But will the Fed back down? No. (Golden Ten)