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Federal Reserve Chair Jerome Powell speaks Tuesday to the annual general meeting of the Foreign Bankers’ Association in Amsterdam.
The appearance is the central bank leader’s first public address since the Federal Open Market Committee voted again to keep its benchmark interest rate steady, which it has done since July 2023.
Policymakers remain concerned that inflation is not showing enough evidence that it is moving toward the Fed’s 2% annual target. Recent data points have shown prices both at the consumer and wholesale levels running hotter than expected while consumer sentiment also has shown elevated expectations over the short term.
Markets still expect the Fed to lower rates later this year, and Powell said following the FOMC meeting that he thinks it is unlikely that rates will increase from here.
Read more:
Fed keeps rates steady as it notes ‘lack of further progress’ on inflation
Wall Street is confused and divided over how many times the Fed will cut rates this year
Consumer sentiment tumbles as inflation fears surge