Federal Reserve Chair Jerome Powell Speaks at New York Times DealBook Conference
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Federal Reserve Chair Jerome Powell is set to speak Wednesday at the New York Times DealBook conference. This appearance comes just two weeks ahead of the central bank’s decision on interest rates and is Powell’s final public appearance before the announcement.
Market expectations are high for the Fed to lower its benchmark interest rate by another quarter percentage point from its current target range of 4.5%-4.75%. In September and November, the rate-setting Federal Open Market Committee had already lowered the federal funds rate by a combined three-quarters of a point.
Recent comments from policymakers suggest some concern about the slight increase in the inflation rate, signaling a cautious approach to policy as they monitor the data closely.
Read more:
Fed Governor Waller says he is ‘leaning toward’ a December rate cut, but worries about inflation
Fed’s preferred inflation gauge rises to 2.3% annually, meeting expectations
Fed officials see interest rate cuts ahead, but only ‘gradually,’ meeting minutes show
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