The stream is scheduled to start at 12:10 p.m. ET. Please refresh the page if you do not see a player above at that time.
Federal Reserve Chair Jerome Powell speaks Wednesday to the Stanford Business, Government and Society forum. He will deliver prepared remarks followed by a question-and-answer session with a moderator.
Latest: Fed’s Powell emphasizes need for more evidence that inflation is easing before cutting rates.
The appearance follows the Fed’s meeting last month at which it held interest rates steady and Powell indicated that the central bank is likely to lower interest rates later this year. But he also said the timing isn’t certain, and policymakers need more evidence that inflation is moving toward the Fed’s 2% goal.
Since then, other officials have echoed those comments. They see an unspecified number of rate reductions coming but the timing is uncertain. Atlanta Fed President Raphael Bostic said Wednesday he thinks there could be just one cut this year, though his colleagues on the Federal Open Market Committee have indicated three.
Markets expect the Fed to start down the path of easing in June or July, with a total of three cuts coming by the end of 2024. Read more: Atlanta Fed President Bostic sees only one rate cut this year, occurring in the fourth quarter; Fed officials still expect rate cuts this year, but not anytime soon; Steve Eisman says the Fed shouldn’t cut rates, risks creating a stock market bubble if it does.
Subscribe to CNBC on YouTube.
Federal Reserve Chair Jerome Powell spoke at the Stanford Business, Government and Society forum, emphasizing the need for more evidence that inflation is easing before cutting rates. Following the Fed’s meeting last month, Powell indicated that the central bank is likely to lower interest rates later this year, but the timing is uncertain. Other officials have echoed this sentiment, with some expecting an unspecified number of rate reductions, but all agree that more evidence is needed before taking action. Atlanta Fed President Raphael Bostic believes there could be just one rate cut this year, occurring in the fourth quarter. While markets expect the Fed to start easing in June or July, with a total of three cuts by the end of 2024. Steve Eisman warned against cutting rates, as it could risk creating a stock market bubble.
Source link
