Federal Reserve Chair Jerome Powell is set to speak today, September 30, 2024, at 1:55 AM UTC, and he's expected to touch on several key points. First, he'll likely mention that inflation is finally nearing the Fed's 2% target, which is why they recently cut interest rates by 0.5%. This reduction signals that they see inflation as less of a threat now.

Powell is also expected to address concerns about the labor market, which has shown signs of weakening. This softening in employment is part of the reason the Fed chose to lower rates, as there's a risk that job losses could worsen.

However, he's unlikely to commit to further rate cuts, instead stressing that future decisions will depend on upcoming economic data, such as the jobs report due later this week. That report will provide a clearer picture of the economy's condition. This speech is crucial because it will offer insight into the Fed's direction for monetary policy in the near term.

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