The runs counter to recent Fed commentary that suggests that they don't want to cut rates until they have a clearer view to low rates and that they're not confident that tariffs will be a one-off, short-lived boost to prices.
My guess is that Powell will repeat that the Fed doesn't need to be in a 'hurry' to make any move. It's what Jefferson said yesterday and that might not be enough but that's been the Fed line since the latest FOMC and given all the turmoil at the moment, it's the safest course of action.
For him though, it's a tough spot, particularly in light of today's non-farm payrolls. He has characterized the Fed stance as modestly restrictive and do they want to be dovish at a time when tariffs could push PCE inflation to 5%.
This article was written by Adam Button at www.forexlive.com. Read More Details
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