Federal Reserve Chairman Jerome Powell is scheduled to speak at the Economic Club of Washington, D.C., with traders keen on any indications regarding possible interest rate cuts by the central bank. Powell’s upcoming remarks follow the recent consumer price index report, showing a decrease in prices in June. During Capitol Hill testimony last week, Powell discussed that the Fed sees the balance shifting between rising inflation and a slowing economy, influencing considerations about a potential rate cut.
Despite continuing economic uncertainties, the Federal Reserve’s policy meeting in July is not expected to include a rate cut. Traders are now focusing on the September meeting as a potential opportunity for a rate cut, highlighting the significance of Powell’s upcoming comments. Powell’s previous statements on the central bank’s approach to inflation and interest rate policy have the markets anticipating his insights during the upcoming discussion at the Economic Club. Powell’s remarks are anticipated amidst ongoing speculation about the Fed’s future strategies in the face of evolving economic indicators.
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