Federal Reserve Chair Jerome Powell on July 1 told a global audience of world bankers, economists, and academics what could prompt a long-awaited U.S. interest rate cut later this month.

Fed Chair Jerome Powell says they would have cut interest rates if Trump did not implement tariffsEuropean Central Bank

Most stock markets in the Gulf were muted in early trade on Wednesday as investors weighed uncertainty over U.S. trade deals with a July tariff deadline fast approaching, while U.S. Federal Reserve Chair's comments kept expectations of a rate cut alive.