Follow along to MarketWatch's live coverage of the speech and market reaction to Jerome Powell's speech on Thursday.
Federal Reserve Chairman Jerome Powell may be more hawkish in his speech Thursday, at least relative to some of the speeches by his colleagues, economists said. “I don’t think Powell will take a definitive position as some on the FOMC have taken that interest rate hikes are behind us,” said Avery Shenfeld, chief economist of CIBC Capital Markets.
The Fed held rates steady at 5.25%-5.5% at their meeting in September but pencilled in one more 25 basis point rate hike at either the November or December meeting. Shenfeld said he was puzzled why many Fed officials seem to be backing away from this forecast at the same time the economic reports have delivered upside surprises to growth in the July-September quarter.
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