Loading ...This week, Federal Reserve Chairman Jerome Powell will be delivering his semi-annual Monetary Policy Report to Congress on Wednesday and Thursday, and the Federal Open Market Committee (FOMC) will also release its June meeting minutes on Wednesday.
Powell’s testimony will carry extra weight and will be even more closely watched, as market watchers look for clues on the central bank’s monetary policy path going forward. In addition, the Fed’s meeting minutes will provide insight into the views of FOMC members.
Some economists now argue that a rate cut is off of the table in July.
The fed fund futures are currently implying no chance of a 50 basis point cut in July, though a 25 basis point cut is still being priced in.