URGENT UPDATE: Fed Chair Jerome Powell is set to deliver remarks at the George Shultz Memorial Event today at 01:00 GMT (20:00 ET). However, attendees should temper expectations regarding any commentary on monetary policy, as the Federal Reserve is currently in a blackout period.
During this event, Powell will provide brief remarks followed by a Q&A session. The blackout period, which limits public comments from Federal Open Market Committee (FOMC) participants, began on April 20, 2024, two weeks before the upcoming FOMC meeting. It will end on May 2, 2024, just before the committee’s policy decisions are made public.
The blackout period is crucial for maintaining the integrity of the Federal Reserve’s decision-making process. It prohibits officials from discussing monetary policy to prevent any undue influence or speculation ahead of key meetings. As such, Powell’s address will focus on other topics rather than monetary policy insights.
This event is significant not only for its timing but also for its connection to the late George Shultz, a prominent figure in U.S. economics and policy. His legacy continues to resonate, and Powell’s participation reflects the ongoing dialogue about economic leadership in the wake of Shultz’s contributions.
As the global economy faces challenges, including inflation and interest rate adjustments, the absence of monetary policy discussions tonight means investors and analysts will need to look elsewhere for guidance. Keep an eye on the upcoming FOMC meeting, where crucial decisions will be made.
Stay tuned for updates as Powell’s remarks unfold. This is a developing story, and we will provide the latest insights as they become available.
