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Federal Reserve Chair Jerome Powell joins a panel of his global peers on Tuesday at the European Central Bank Forum.
Powell will join European Central Bank President Christine Lagarde and Brazil’s central bank governor Roberto Campos Neto at the ECB’s forum on central banking in Sintra, Portugal. CNBC’s Sarah Eisen will moderate the forum. The event comes as investors closely watch how central bank policymakers are responding to inflation dynamics around the world.
In the US, the Fed under Powell has kept key interest rates steady over the past year despite inflation falling sharply from its mid-2022 peak. The European Central Bank under Lagarde cut rates by a quarter point to 4.25%, while the Bank of Japan under Nieto cut rates by a quarter point in May to bring its benchmark rate down to 10.5%.
Traders largely expect the Fed to start cutting rates in September with another cut by the end of the year and quarterly downward moves through at least September 2025. However, Fed officials indicated in June that they expected only one cut this year.
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