Finance
Watch Fed Chairman Jerome Powell speak live to the banking group in Amsterdam
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Federal Reserve Chairman Jerome Powell addresses the annual general meeting of the Foreign Bankers’ Association in Amsterdam on Tuesday.
The appearance marks the central bank leader’s first public speech since the Federal Open Market Committee voted again to keep the key interest rate stable, which it has done since July 2023.
Policymakers remain concerned that inflation is not providing sufficient evidence that it is moving toward the Fed’s 2% annual target. Recent data points have shown that prices at both consumer and wholesale levels are higher than expected, while near-term consumer confidence has also shown higher expectations.
Markets still expect the Fed to cut rates later this year, and Powell said after the FOMC meeting that he thinks rates are unlikely to rise from here.
read more:
The Fed is keeping interest rates stable because it concludes that there is “no further progress” on inflation
Wall Street is confused and divided over how many times the Fed will cut rates this year
Consumer confidence is plummeting as fears about inflation increase
