The highly anticipated stream featuring Federal Reserve Chair Jerome Powell is set to commence at 10:30 a.m. ET, with CNBC Television providing coverage as the event unfolds. Attendees and viewers are reminded to refresh the page if the stream is not immediately visible.
Powell’s address is particularly notable as it marks one of his final public engagements before the conclusion of his term in May. During this appearance, he will speak to students in the Principles of Economics class at Harvard University, allowing for a unique interaction between the central bank’s leadership and the next generation of economists.
In recent remarks, Powell articulated that the economy is expanding at what he described as a “solid pace.” He dismissed concerns over stagflation, which is characterized by stagnant growth coupled with high inflation. Nonetheless, he cautioned that federal policymakers remain vigilant, closely monitoring a range of influencing factors this year, including ongoing geopolitical tensions related to the Iran war, trade tariffs, and challenges in the labor market.
Powell’s current term is officially set to expire on May 15, with only one Federal Open Market Committee meeting scheduled before then. However, there is speculation that he could extend his tenure if the Senate does not confirm his proposed successor, former Governor Kevin Warsh. Warsh’s nomination is currently stalled in the Senate Banking Committee amid investigations led by U.S. Attorney Jeanine Pirro concerning renovations at the Federal Reserve’s headquarters. A recent legal decision blocked a subpoena issued to Powell by Pirro’s office, but an appeal to this ruling is underway, adding further complexity to the situation.
Market analysts remain on high alert, with some indicating rising odds of recession as underlying economic indicators start to show signs of weakness. Additionally, Federal Reserve Governor Austan Goolsbee has expressed concerns regarding inflation amid what he describes as a “fraught but intense” economic climate. Furthermore, Governor Christopher Waller has urged a cautious approach from the Fed, suggesting that while rate cuts could become a possibility later in the year, decision-makers will act judiciously based on prevailing economic conditions.
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