Jerome Powell, the Chair of the Federal Reserve, is scheduled to speak today at the George Shultz Memorial Event at 01:00 GMT (20:00 ET). During this event, he will deliver brief remarks and engage in a question-and-answer session. However, attendees should not anticipate any comments regarding monetary policy.
The Federal Reserve is currently in a blackout period, which restricts its officials from discussing monetary policy publicly or granting interviews. This blackout period begins on the second Saturday prior to a meeting of the Federal Open Market Committee (FOMC) and concludes the Thursday following the meeting. As such, Powell’s address will focus on topics unrelated to monetary policy.
The blackout period serves to maintain the integrity of the FOMC’s upcoming decisions by preventing any potential influence or speculation that could arise from public comments made by its members. This policy underscores the Federal Reserve’s commitment to transparency and careful management of market expectations during critical periods leading up to policy meetings.
Powell’s remarks at the memorial event are expected to honor the legacy of George Shultz, a prominent economist and former U.S. Secretary of State, highlighting his contributions to economic policy and public service. While the event may delve into important economic themes, it is clear that discussions surrounding interest rates or other monetary policy issues will remain off the table.
As the financial world awaits further developments from the Federal Reserve, Powell’s appearance tonight will provide a platform for reflection on broader economic issues rather than immediate policy direction.
