URGENT UPDATE: Federal Reserve Chair Jerome Powell is set to speak tonight at the George Shultz Memorial Event at 01:00 GMT (20:00 ET). However, attendees should not expect any comments regarding monetary policy, as the Fed is currently in a blackout period.
During this highly anticipated event, Powell will deliver brief remarks followed by a Q&A session. Despite the excitement surrounding his appearance, officials confirm that he will refrain from discussing any monetary policy matters due to the restrictions imposed during the blackout period. This period begins on the second Saturday before an FOMC meeting and concludes the Thursday after the meeting, limiting public commentary from Federal Reserve participants and staff.
The blackout period is crucial for maintaining the integrity of financial markets, preventing any potential leaks or speculation ahead of upcoming monetary policy decisions. As a result, Powell’s remarks will focus instead on honoring the late George Shultz, a significant figure in economic policy.
WHAT TO WATCH FOR: Market watchers and financial analysts will be keenly observing Powell’s tone and any hints at future policy direction, even if direct comments are off-limits. With the next FOMC meeting approaching, the impact of his words may resonate beyond tonight’s event, influencing market sentiment and investor strategy.
Stay tuned for further updates as this story develops.
