The financial market eagerly awaits the FOMC interest rate cut decision and Jerome Powell speech later today. Both these events are likely to shape the future of global stocks as well as the crypto market. The US Fed meeting, which started on September 17, is scheduled to conclude today with the central bank announcing the interest rate cut points followed by Powell’s speech.
So, here we take a closer look at the timing of the events and the key spaces that the investors should keep an eye on for updates.
When And Where To Watch Jerome Powell Speech Today?
The most awaited events in the financial markets, the US FOMC decision, and Jerome Powell Speech will be closely watched by investors today. Notably, the US central bank is expected to announce its first rate cuts for the first time in four years today.
Meanwhile, the September US Fed meeting has started on Tuesday, September 17, and the US Fed will announce its interest rate cut decision today at 2:00 PM ET. Following that, the US Fed Chair Jerome Powell is scheduled for his speech at 2:30 pm ET.
The US Federal Reserve will hold a live streaming for the event on its official website on the scheduled time. In addition, the market watchers could also see the live broadcast at their other social channels like YouTube.
Potential Impact Of The US Fed Meeting
According to the CME FedWatch Tool, the market is 100% confident over a potential rate cut decision at the conclusion of the US Fed meeting today. Notably, there is a 55% probability of a 50 bps interest rate cut, while the remaining percentage is anticipating a lower cut of 0.25%.
However, a flurry of economists said that the market has already priced in for a rate cut in the ongoing Fed meeting. In other words, the anticipated US Fed rate cut decision for the first time in four years might impact the market movements, but the Jerome Powell speech will have more weight.
The market pundits said that the upcoming stance of the US Federal Reserve will likely have more impact on the market sentiment, than the upcoming rate cut decision today. Having said that, a dovish comment from Fed Chair Powell could trigger a potential rally in the market, while any alternative move could dampen the broader market sentiment.
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