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Federal Reserve Chairman Jerome Powell will speak at the Economic Club of Washington, D.C., on Monday, providing insights into the central bank’s interest rate policy and the broader economic landscape. Powell will engage in a discussion with David Rubenstein, president of the Economic Club and co-founder of The Carlyle Group.
The move marks Powell’s first public comments since Thursday’s Consumer Price Index (CPI) report, which showed monthly prices for June falling.
During his two-day testimony on Capitol Hill last week, Powell said the Federal Reserve now sees the risks of rising inflation and a slowing economy as more balanced. He also said the central bank does not need to wait for inflation to hit its 2% target before considering rate cuts.
The Fed’s next policy meeting is scheduled for late July, but a rate cut then is seen as unlikely. Instead, traders are watching the September meeting closely for potential interest rate changes.
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