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Federal Reserve Chairman Jerome Powell speaks at the Foreign Bankers Association’s annual general meeting in Amsterdam on Tuesday.
This is the central bank leader’s first public speech since the Federal Open Market Committee voted again in favor of maintaining its benchmark interest rate, which it has done since July 2023.
Policymakers remain concerned that inflation is not showing enough evidence that it is approaching the Fed’s 2% annual target. Recent data showed prices at the consumer and wholesale level were higher than expected, while consumer confidence also showed elevated expectations in the near term.
Markets still expect the Fed to cut rates later this year, and Powell said after the FOMC meeting that he thought rates were unlikely to rise from here on out.
Learn more:
Fed keeps rates steady as it sees ‘lack of further progress’ on inflation
Wall Street is confused and divided over how many times the Fed will cut rates this year.
Consumer Confidence Plummets as Inflation Fears Rise
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