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Federal Reserve Chairman Jerome Powell will speak to the Economic Club in Washington, DC, on Monday as traders look for clues about when the central bank will cut interest rates. Powell will participate in a discussion with David Rubenstein, chairman of the Economic Club and co-founder of the Carlyle Group.
These will be Powell's first remarks since the release of Thursday's consumer price index report, which showed prices fell on a monthly basis in June.
Powell held a two-day testimony on Capitol Hill last week, during which he said the Fed now sees the risks between rising inflation and a slowing economy as more balanced. He also said the central bank does not need to wait until inflation actually reaches its 2% target before cutting interest rates.
The Federal Reserve is meeting at the end of July, but a rate cut is considered unlikely at that time. Traders are instead focusing on the September meeting, where a rate cut is possible.
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