Markets await for Fed’s Chairman speech about interest rate path

Today, US Federal Reserve Chairman Jerome Powell will testify before the Senate Banking Committee, in a hearing that is likely to assess whether recent signs of slowing inflation and a slowdown in the labor market will prompt the Fed to accelerate its plans to reduce interest rates.

Data last week showed companies added a still healthy 206,000 jobs in June, but revisions to previous months show the trend is lower.

Powell said in recent comments that the United States may be at a point where further weakness in the economy will lead to a jump in the economy, according to CNBC.

At the Fed’s June 11-12 meeting, the average forecast for 19 officials was for a rate cut of just a quarter point and by the end of the year, but since then inflation data has been weaker than expected, and many policymakers, including… Powell, I’m starting to notice concerns about a slowing labor market.

At the Fed’s June 11-12 meeting, the average forecast for 19 officials was for a rate cut of just a quarter point and by the end of the year, but since then inflation data has been weaker than expected, and many policymakers, including… Powell, I’m starting to notice concerns about a slowing labor market.