Fed Chair Jerome Powell is set to give a speech today, September 30, 2024, at 1:55 AM UTC. He’s expected to talk about a few key things:
First, he'll probably mention how inflation is finally getting under control and approaching the Fed’s target of 2%, which is why they recently cut interest rates by 0.5%. This cut was a big deal because it shows they think inflation is less of a risk now.
Next, Powell is likely to bring up concerns about the labor market, which has been showing signs of weakening. That's one of the reasons why the Fed decided to start cutting rates—there’s some risk that employment could drop further.
Finally, don’t expect him to say for sure whether more rate cuts are coming. He’ll probably emphasize that it all depends on the upcoming economic data, like the jobs report later this week. It’s going to give a clearer picture of how the economy is holding up.
This speech is going to be important because it will give everyone a better idea of where the Fed is headed with their policies in the near future.
