Market Reports

Fed Highlights This Week: Key Speeches and Rate Decision Minutes

By RT Staff Reporters · May 20, 2024 · 2 min read

This week’s focus is once again on the direction of U.S. interest rates, with several key events scheduled between May 20 and May 24.

Jerome Powell, the Chair of the U.S. Federal Reserve, began early by delivering a speech at the Georgetown Law School graduation on Sunday (May 19).

This significant event marked the start of a noftable week.

Notably, due to a positive COVID-19 test and symptoms, Powell’s address was delivered via a pre-recorded video at 4:30 PM.

Additionally, on Sunday at 10:15 PM, the People’s Bank of China (PBoC) announced its interest rate decision.

Looking ahead, American monetary policy will continue to dominate discussions, with new statements expected from three Federal Reserve officials this week.

Fed Highlights This Week: Key Speeches and Rate Decision Minutes. (Photo Internet reproduction)

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Michael Barr, Christopher Waller, and Philip Jefferson are scheduled to speak at events accessible on the Fed’s YouTube page.

On Tuesday, Barr and Waller will make official statements again.

The highlight of the week comes on Wednesday, with the release of the minutes from the Fed’s latest interest rate decision on May 1.

The minutes will detail the deliberations that led to maintaining the rates between 5.25% and 5.50%.

With recent employment and inflation data showing moderation, the market is eager for insights into the Fed’s confidence levels and potential rate cuts later this year.