Investing.com – Chairman Jerome Powell delivers first speech after interest rate decision at the Nov. 1 meeting of the Federal Open Market Committee (Fomc, in the English acronym). O chairman of the US Central Bank takes place this Wednesday, at 11:15 am (Brasília time). at Research and Statistics Centennial Conferencein Washington.
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Watch Powell’s speech live below:
Powell reappears to the public after speeches by other Fed members, who discouraged investors after the euphoria with the jobs report (payroll) of October below what was expected by the market, which was announced last Friday (3). Markets created the expectation of an end to the rising interest rate cycle in the USA.
However, the speeches by Fed members do not confirm this expectation and prepare the ground for a tougher (hawkish) speech from Powell. In an interview with Wall Street Journal, Neel Kashkari, stated that it is still too early to declare victory against and argued that the risk of a restrictive monetary policy is lower than that of an excessively loose monetary policy
“If we don’t tighten enough, we will not return to 2% inflation in a reasonable period of time”, he stated, expressing concern about the possibility of inflation “rising again”.
The director of the The Fed’s Michelle Bowman said she would be willing to support another rate hike at a future meeting “if new data indicates that progress on inflation has stalled or is insufficient to bring it to 2% in a timely manner.”
The president of Chicago Fed Austan Goolsbee, meanwhile, acknowledged recent progress on inflation but said in an interview with CNBC that reducing inflation was “the number one priority.”