【Everyone pay attention! Federal Reserve Chairman Powell will give a speech this week, here are the date, time, and details】
Federal Reserve Chairman Jerome Powell will speak on December 4 at the New York Times DealBook Summit, and the market is focused on his views on interest rate cuts. The speech is scheduled for local time 21:45 (UTC+3).
Currently, the market has high expectations for interest rate prospects. According to federal funds futures, the market expects rates to drop from the current 4.5%-4.75% to about 3.8% by the end of 2024, an increase of 100 basis points compared to the September forecast for rate cuts. The minutes from the Federal Reserve's November policy meeting indicated that decision-makers are taking a cautious approach to interest rate cuts.
This speech comes at a time when the U.S. stock market has made a strong rebound, with the S&P 500 index recording its largest monthly increase since November 2023. According to LSEG Lipper data, global equity funds attracted $12.19 billion this week, marking nine consecutive weeks of net inflows.
Before Powell's speech, the market will focus on U.S. labor market data, including non-farm employment, the October job openings report, and the November ADP employment data. Strong labor market performance may reduce market expectations for aggressive rate cuts.
Analysts point out that the Federal Reserve is weighing the need for adjustments to its policies regarding the economy and labor market. Wells Fargo investment strategist Sameer Samana stated that the Federal Reserve is reassessing the necessity of future policy easing.