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Federal Reserve Chair Jerome Powell joins a panel including his global counterparts Tuesday at a European Central Bank forum.
Powell will join ECB President Christine Lagarde and Brazil Central Bank Governor Roberto Campos Neto at the ECB Forum on Central Banking in Sintra, Portugal. CNBC’s Sara Eisen will moderate. The forum happens with investors closely watching how central bank policymakers will react to inflation dynamics around the world.
In the U.S., the Powell-led Fed has kept its main policy rate steady for the past year despite inflation rates well off their mid-2022 peaks. Lagarde’s ECB enacted a quarter-percentage-point cut that took its rate down to 4.25%, while Neto’s bank cut by a quarter point in May to take its primary rate down to 10.5%.
Traders largely expect the Fed to start cutting in September with another reduction by the end of the year and quarterly moves lower through at least September 2025. However, Fed officials in June indicated they expect just one reduction this year.
Read more:
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Fed holds rates steady, indicates only one cut coming this year
Fed and European Central Bank could cut interest rates in September, Morgan Stanley strategist says
