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Federal Reserve Chairman Jerome Powell will speak at the Economic Club of Washington, D.C., on Monday, and traders are looking for hints on when the Fed will cut interest rates. Powell will discuss with David Rubinstein, chairman of the Economic Club and co-founder of Carlyle Group.
This will be Powell’s first speech since Thursday’s consumer price index report, which showed prices fell in June from the previous month.
Powell did deliver two days of testimony on Capitol Hill last week, in which he said the Fed believed risks between rising inflation and a slowing economy were now more balanced. He also said that the central bank does not need to wait until inflation actually reaches the 2% target before cutting interest rates.
The Federal Reserve will hold a policy meeting at the end of July, but it is unlikely to cut interest rates by then. Traders instead focused on the September meeting as a potential rate cut.
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