قالب وردپرس درنا توس
Home / Business / Fed Chairman Powell on his way to Capitol Hill – Worth knowing about markets on Wednesday

Fed Chairman Powell on his way to Capitol Hill – Worth knowing about markets on Wednesday



Wednesday prepares for a big day for the Federal Reserve. First, Fed Chairman Jerome Powell heads to Capitol Hill to testify to Congress for two days. He will submit his biannual monetary policy report. In the afternoon, the Fed will publish the session minutes for June. Investors will pay close attention to these two potential market-moving events.

<p class = "Canvas Atomic Canvas Text Mb (1

.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " [Readmore: Powell could push back the possibility of interest rate cuts this week . " data-reactid = "16"> [Readmore: Powell could reverse the possibility of interest rate cuts this week.

Powell's statement follows on the job report from June, which was released on Friday. The US labor market remains the bright spot in the economy, although other recent economic data point to a slowdown. Stocks fell on the job report as investors feared that more-than-expected data would dampen the likelihood of a rate cut at the July Fed meeting. However, markets still expect a 100% chance of a 25bp cut in July. Several economists have noted that the latest employment report has shown that the data was not weak enough to lower policy rates at this month's meeting.

G-20 give Powell a chance to break market prices in July. We believe he is taking this opportunity to do just that as he continues to recognize that uncertainty is increasing and global flows remain, "Merrill Lynch said in a Friday statement.

Now many are wondering what the central bank's future monetary policy is The political path will look like this, and Powell might give some clues during his testimony. A key role will be played by his speech on the current economic situation as well as on risks and "countercurrents".

In addition to questions about the economy, Powell is likely to encounter political pressure as President Donald Trump continues to execute the Fed's relentless attack.

On the corporate profit side, retailer Bed Bath & Beyond (BBBY) will post quarterly results after market close.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = " "data-reactid =" 22 "> <p class =" Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Heidi Chung is a reporter at Yahoo Finance Follow her on Twitter: @heidi_chung . "data-reactid =" 23 "> [19659010] Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung .

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Follow Yahoo Finance on Twitter Facebook Instagram [19659002] Flipboard LinkedIn and reddit [19659025] "data-reactid =" 24 "> Follow Yahoo Finance on Twitter Facebook Instagram [19659002] Flipboard LinkedIn [19659002and reddit p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " More from Heidi: " data-reactid = "27"> More from Heidi:

Job report surpasses expectations

The job cuts in the first half of the year were the highest since 2009: Challenger [19659047] US. Private sector employment grows disappointingly slow

McDonald's Japan is one of the most popular places on Facebook

Tyson on old-meat: we're making great strides


Source link