Federal Reserve chief Powell to speak at the US Monetary Policy Forum today– Check time, where to watch
Jerome Powell, the chair of the Federal Reserve, will be the center of attention today as he speaks at the 18th annual U.S. Monetary Policy Forum in New York City on Friday.
This annual conference brings together academics, market economists, and policy makers. In advance of each event, members of the forum’s panel of scholars produce a report on a different critical issue confronting the Federal Open Market Committee. The conference is sponsored by the Kent A. Clark Center for Global Markets at the University of Chicago Booth School of Business.
The lunch keynote will be presented by Jerome Powell, Board of Governors of the Federal Reserve at 12:30 p.m. ET on March 7, 2025. The Powell’s speech can be watched here.
US Fed chief Powell is facing some tough times as the Federal Reserve’s policy independence is in the spotlight. Powell’s hard work in taming inflation may go to waste if Trump’s tariff policies turn out to be inflationary. The US economy looks to be on shaky ground and Powell may have to resort to a rate cut sooner than later in 2025.
In a hearing with lawmakers, Powell had indicated little urgency to lower interest rates due to the robust economy and high inflation.
Recent economic data shows a decline in consumer spending, retail sales, manufacturing, and construction, while housing activity remains stagnant, causing forecasts for economic growth in the first quarter to fall.
Markets anticipate three Federal Reserve interest rate cuts this year, up from the expected one or two following the February 7 jobs report release.
Wall Street is fearful that Trump’s tariffs, and the counter-tariffs they generate, could reignite inflation and hinder economic development. The February 2025 CPI data are set to be announced on March 12, 2025.
Donald Trump’s start-stop tariff tactics have heightened uncertainty, reigniting concerns of a time of “stagflation,” which is defined as low growth combined with rising prices.
At a time when Trump tariffs are thought to be inflationary, the US Federal Reserve’s aggressive rate decreases could spark inflation again.
The next FOMC meeting is scheduled for March 18–19.
The conference begins with the 2025 report, Monetary Policy Transmission to Real Activity presented by Seth Carpenter (Morgan Stanley), Michael Feroli (JP Morgan), David Mericle (Goldman Sachs), Linda Tesar (University of Michigan) and Kenneth West (University of Wisconsin).
The report will be discussed by Michelle Bowman, Board of Governors of the Federal Reserve and John Williams, Federal Reserve Bank of New York.
The conference concludes with a panel discussion on Central Bank Frameworks Reviews that includes Pablo Hernández de Cos, formerly Bank of Spain, Donald Kohn,Brookings, Matthew Shapiro,University of Michigan and Loretta Mester, formerly Federal Reserve Bank of Cleveland (panel moderator).