Fed Chair Powell Speaks

On June 28, US Federal Reserve Chair Jerome Powell will deliver monetary policy speeches on Wednesday and Thursday, after the Fed held interest rates constant in June but projected rises later this year.

A few things were clear: the Fed isn’t done battling inflation, the emphasis of additional financial regulation will almost certainly be on the largest banks, and the central bank is still focused on its employment mission.

Democrats frequently reminded Powell of the Fed’s duty to attain full employment, emphasizing their concerns about job losses if the central bank goes too far. Powell reiterated the Fed’s hawkish conviction that the fight against inflation is far from over. The CME FedWatch Tool predicts a 25 basis point rise in July with a 72% chance.