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Federal Reserve Chair Jerome Powell speaks Monday to the Harvard University Principles of Economics class.
This will be one of Powell’s final scheduled public appearances before his term ends in May. The discussion comes with markets anticipating the central bank will be on hold regarding interest rates through the end of the year.
In his most recent comments, Powell characterized the economy as growing at “a solid pace” and said he is not concerned with worries of stagflation, low growth with high inflation. However, he noted that policymakers are taking a cautious approach as multiple factors play out this year, including the Iran war, tariffs and a stagnant labor market.
Powell’s term ends officially on May 15, and there is only one more policy meeting between now and then. However, it’s possible he will stay in the position longer if the Senate does not confirm is designated successor, former Governor Kevin Warsh.
The nomination currently is being held up in the Senate Banking Committee as U.S. Attorney Jeanine Pirro continues an investigation into the renovations at the Fed’s headquarters. A judge already has quashed a subpoena Pirro’s office sent to Powell, though she is appealing that decision.
Read more:
Recession odds climb on Wall Street as economy shows cracks beneath the surface
Fed’s Goolsbee says he’s worried about inflation in ‘fraught but intense’ climate
Fed Governor Waller urges caution for now, says rate cuts possible later in the year
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