Fed Chair Powell delivering key speech today: Here's what to expect
foxbusiness.comPotomac Wealth Advisors President Mark Avallone discusses whether the stock market rally will last after CPI data showed inflation slowed again in June on «Varney & Co.»
All eyes will be on Federal Reserve Chair Jerome Powell when he delivers a speech Thursday before the Economic Club of New York as investors look for clues about where monetary policy is headed next.
Powell is scheduled to deliver prepared remarks and respond to questions from a moderate at 12 p.m. in New York, just two weeks before central bank officials next meet on Oct. 31-Nov. 1. Policymakers typically enter a «blackout period,» when they are barred from making public comments on the economy and policy starting the second Saturday before the meeting begins.
Experts anticipate that Powell will stay the course on the future path of interest rates – lauding recent declines in inflation but stressing that officials are prepared to raise interest rates further if warranted.
FED SKIPS AN INTEREST RATE HIKE, BUT HIGH MORTGAGE RATES COULD BE HERE TO STAY
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on March 22, 2023. (Photographer: Al Drago/Bloomberg via Getty Images / Getty Images)
«I do not expect Chair Powell to front run the committee ahead of the November policy meeting,» Joe Brusuelas, RSM chief economist, told FOX Business. «His text and tone are likely to mirror both the September policy statement and press conference.»
Officials voted at the meeting last month to hold interest rates steady at a range of 5.25% to 5.5%, the highest level since 2001. However, policymakers also left the door open to an additional increase this year – and
Read more on foxbusiness.com
