Expect less transparency from Fed Chair Jerome Powell this week, economist says
Federal Reserve Chair could offer less clarity during the central bank’s policy meeting
Federal Reserve Chair Jerome Powell is expected to provide less transparency during the central bank’s policy meeting, which is set to begin on Tuesday, as stated by Gregory Daco, the chief economist at EY. Daco emphasized that Powell may deviate from the high level of transparency demonstrated by the Federal Reserve Chair in January when discussing potential rate cuts for the months of May and June. He sent out a note on Friday stating, “We look for Fed Chair Powell to be less transparent than he was in January regarding the May and June meetings being ‘live’ for potential rate cuts.” Nevertheless, Daco anticipates that Powell will emphasize the ongoing discussions among Fed policymakers regarding policy easing, as well as the timing and logistics of tapering the balance sheet quantitative tightening process.
— Brian Evans
Stock futures are little changed
Stock futures showed little change on Sunday as Wall Street eagerly awaits insight on possible interest rate cuts ahead of the Federal Reserve’s policy meeting this week. The Dow Jones Industrial Average futures slipped 20 points, equivalent to a 0.05% decline, while Nasdaq-100 futures experienced a modest 0.1% uptick. Meanwhile, futures tied to the S&P 500 remained near the flatline, reflecting a lack of significant movement.
— Brian Evans
