URGENT UPDATE: Federal Reserve Chair Jerome Powell is set to speak tonight at the George Shultz Memorial Event at 01:00 GMT / 20:00 ET. This event is highly anticipated, but attendees should not expect any insights on monetary policy as the Fed is currently in a blackout period.
Officials confirm that Powell will deliver brief remarks and engage in a Q&A session, but due to the ongoing blackout, discussions regarding monetary policy will be off the table. The blackout period, which began on the second Saturday preceding an FOMC meeting, limits public communications from Fed participants and staff, ensuring that no comments can influence market expectations ahead of policy decisions.
This event not only honors the late George Shultz but also serves as a platform for Powell to address broader economic issues without the constraints of monetary policy discussions. As the Fed navigates economic challenges, all eyes will be on Powell’s remarks for any hints of the Fed’s direction post-blackout.
Why does this matter RIGHT NOW? With inflation and interest rates on many people’s minds, Powell’s address will be scrutinized for any signals about future actions, even if monetary policy is not directly addressed. Investors and analysts are keenly aware that insights beyond policy can shape market sentiment and reactions.
Stay tuned for updates as the event unfolds tonight. Engage in discussions and share your thoughts on social media as we await Powell’s remarks.
