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Federal Reserve Chairman Jerome Powell will take part in a panel discussion with his international counterparts at a European Central Bank forum on Tuesday.
Powell will attend the ECB Central Bank Forum in Sintra, Portugal, alongside ECB President Christine Lagarde and Brazilian Central Bank Governor Roberto Campos Neto. CNBC’s Sara Eisen will moderate. The forum comes as investors closely watch how central bank policymakers will respond to inflation dynamics around the world.
In the US, the Fed, led by Powell, has kept its key interest rate stable over the past year, although inflation rates are well below their peaks in mid-2022. Lagarde’s ECB issued a cut of a quarter of a percentage point, bringing the key interest rate down to 4.25%, while Neto’s bank in May cut the key interest rate by a quarter of a point to 10.5%.
Traders widely expect the Fed to begin cutting rates in September, make another cut by the end of the year, and continue to decline on a quarterly basis through at least September 2025. However, Fed officials said in June that they expected only one cut this year.
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The Fed is keeping interest rates stable and is only hinting at one rate cut this year
Fed and European Central Bank could cut interest rates in September, says Morgan Stanley strategist
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2024-07-02 15:33:19
www.cnbc.com
