Fed’s Powell Takes the Stage With Other Global Bank Chiefs
Federal Reserve Chair Jerome Powell is set to speak alongside other global central bank heads on Tuesday, days after a promising inflation report.The monetary-policy world has converged on Sintra, Portugal, this week for the European Central Bank's annual Forum on Central Banking. Powell will take part in a moderated panel discussion with ECB President Christine Lagarde and Roberto Campos Neto, governor of the Banco Central do Brasil, at 9:30 a.m. Eastern.On Friday, government data showed that the personal consumption expenditures price index -- the Federal Reserve's preferred inflation measure -- was practically unchanged in May. That was a return to a pace of monthly inflation last seen in the fall of 2023 and a welcome reading for those rooting for interest-rate cuts in 2024."We had really, really good inflation data in the second half of last year, then kind of a pause in progress in the first quarter," Powell said at a press conference after a meeting of the Federal Open Market Co
