Fed Chairman Jerome Powell will hold a press conference after the central bank’s latest interest rate decision.
In his speech, which will start at 18:30 UTC, Powell will answer journalists’ questions, as well as his evaluations on the current state of the economy and the outlook of monetary policy.
Timiraos of the WSJ evaluated the language used by the FED when it increased 25 basis points:
“The FOMC statement used language broadly similar to the way officials finalized interest rate hikes in 2006 and did not promise a clear pause, maintaining the tightening trend.”
Jerome Powell is the 16th chairman of the Fed, the central bank of the United States. He has held the post since 2018 and was re-nominated for a second term by President Joe Biden in 2021. He is also chairman of the Federal Open Market Committee (FOMC), the Fed’s main monetary policy making body.
Powell’s original professions were law and investment banking. He has worked for various financial institutions, including the partnership of The Carlyle Group, a private equity firm. He also served as Under-Secretary of the Treasury for internal finance under President George HW Bush in the early 1990s.
The Fed is made up of a Board of Presidents based in Washington, DC, which is the governing body of the system, and 12 regional Reserve Banks that enforce nationwide policies and serve their regions. The Fed also has several committees and councils that advise and assist the Board and Reserve Banks on a variety of issues.
U.S. interest rate futures are pricing in a pause at the June, July meeting.
*Not investment advice.