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Federal Reserve Chairman Jerome Powell is set to address the Economic Club of Washington, D.C. on Monday, as traders look for hints about when the central bank will cut interest rates. Powell will partake in a discussion with David Rubenstein, chairman of the Economic Club and co-founder of The Carlyle Group.
These will be Powell’s first remarks since Thursday’s consumer price index report, which showed that prices went down in June on a monthly basis.
Powell did deliver two days of testimony on Capitol Hill last week, where he said that the Fed viewed the risks between rising inflation and a slowing economy to be more balanced now. He also said that the central bank did not need to wait for inflation to actually reach its 2% target before cutting rates.
The Federal Reserve has a policy meeting at the end of July, but a rate cut is seen unlikely at that time. Traders have instead focused on the September meeting as a potential cut.