# Fed Chairman Powell says rate cut was a 'midcycle adjustment'

> Powell said the July 31 rate cut was a 'midcycle adjustment' to policy and not the first of a long cutting cycle. The Dow fell as much as about 470 points intraday after the comments.

- Date: 2019-07-31 · published 2019-07-31T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/58015-fed-chairman-powell-says-rate-cut-was-a-midcycle-adjustment
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Reduced odds of additional cuts support the dollar and weigh on risk assets and commodities, which feeds into dollar-priced feed ingredient costs.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-01-01 | [Fed sees only one rate cut in 2026; no hike ahead, says Powell](https://feedsoft.ai/events/21688-fed-sees-only-one-rate-cut-in-2026-no-hike-ahead-says-powell.md) | +0.3% | -1.5% |
| DXY | 2019-05-01 | [Dollar rises as Fed's Powell cools bets on rate-cut](https://feedsoft.ai/events/59251-dollar-rises-as-fed-s-powell-cools-bets-on-rate-cut.md) | +0.2% | +1.1% |
| DXY | 2018-06-13 | [Transcript: Fed Chairman Jerome Powell’s Postmeeting Press Conference](https://feedsoft.ai/events/64441-transcript-fed-chairman-jerome-powell-s-postmeeting-press-conference.md) | +1.3% | +0.6% |
| DXY | 2018-10-03 | [Powell says we're 'a long way' from neutral on interest rates](https://feedsoft.ai/events/62449-powell-says-we-re-a-long-way-from-neutral-on-interest-rates.md) | +0.6% | +2.3% |
| DXY | 2018-02-27 | [Gold slides after Fed's Powell confirms gradual rate hikes](https://feedsoft.ai/events/66405-gold-slides-after-fed-s-powell-confirms-gradual-rate-hikes.md) | +0.1% | -0.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/07/31/fed-chief-powell-says-rate-cut-was-a-mid-cycle-adjustment.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.