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On Tuesday, Federal Reserve Chairman Jerome Powell joined a panel that included global peers at the European Central Bank forum.
Powell will attend the ECB Central Banking Forum in Sintra, Portugal, along with European Central Bank President Christine Lagarde and Brazilian Central Bank President Roberto Campos Neto. CNBC’s Sara Eisen will serve as moderator. At this forum, investors paid close attention to how central bank policymakers will respond to global inflation dynamics.
In the United States, the Federal Reserve led by Powell has kept key policy rates steady over the past year, even though inflation is well below its peak in mid-2022. Lagarde’s ECB cut interest rates by a quarter of a percentage point, taking them to 4.25%, while Neto’s ECB cut rates by a quarter of a percentage point in May, taking the base rate to 4.25%. 10.5%.
Traders generally expect the Fed to start cutting interest rates in September, cut rates again before the end of the year, and cut rates at least quarterly until September 2025.
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