{"id":1477562,"date":"2024-07-15T16:32:34","date_gmt":"2024-07-15T20:32:34","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1477562"},"modified":"2024-07-15T16:32:34","modified_gmt":"2024-07-15T20:32:34","slug":"watch-live-fed-chair-powell-speaks-with-david-rubinstein","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/watch-live-fed-chair-powell-speaks-with-david-rubinstein\/1477562\/","title":{"rendered":"Watch Live: Fed Chair Powell Speaks With David Rubinstein"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">Watch Live: Fed Chair Powell Speaks With David Rubinstein<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>FedChair Jerome Powell is sitting down to have a conversation with David Rubenstein at the Economic Club of Washington.<\/p>\n<p>Just last week, in two days of congressional testimony, Powell specifically declined to speculate on the timing of the Fed\u2019s first rate cut:<\/p>\n<p><em><strong>\u201cI\u2019m not going to be sending any signals about the timing of future actions.\u201d<\/strong><\/em><\/p>\n<p>Today\u2019s appearance by Powell is <strong>his first public opportunity to respond to the better-than-expected June inflation data.<\/strong> He described the May data as \u201cvery good\u201d and traders will be intently dissecting what Powell might say after his congressional testimony last week reinforced growing consensus that the Fed may cut as early as September.<\/p>\n<p>We think <strong>Powell will\u00a0 &#8211; as usual &#8211; take the opportunity to emphasize the importance of keeping the Fed politically independent,<\/strong> but would also acknowledge the unsustainable trajectory of the national debt.<\/p>\n<p>Ian Lyngen at BMO Capital Markets says, <em>\u201cPowell will retain flexibility on the precise timing of any looming cut and reiterate the messaging from last week\u2019s congressional testimony.\u201d\u00a0 <\/em><\/p>\n<p>At the very least, BMO expects Powell\u2019s tone will keep the 2yr yield below 4.5% and in turn \u201cthere is little preventing 2s\/10s from pushing to the -15bp\/-20bp range and 5s\/30s to this year\u2019s peak of 38.2 bp.\u201d<\/p>\n<p>Just a couple hours before Powell\u2019s remarks, Goldman Sachs economists led by Jan <strong>Hatzius wrote in a note to clients that there was a \u201csolid rationale\u201d for cutting rates as soon as July 31.<\/strong><\/p>\n<p>Watch Powell speak live (due to start at 1230ET):<\/p>\n<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Mon, 07\/15\/2024 &#8211; 12:32<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/markets\/watch-live-fed-chair-powell-speaks-david-rubinstein\" target=\"_blank\" class=\"\" rel=\"noopener\">https:\/\/www.zerohedge.com\/markets\/watch-live-fed-chair-powell-speaks-david-rubinstein<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Watch Live: Fed Chair Powell Speaks With David Rubinstein FedChair Jerome Powell is sitting down to have a conversation with David Rubenstein at the Economic&#8230;<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1477562","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6cnE","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1477562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1477562"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1477562\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1477562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1477562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1477562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}