Powell’s speech will be about his outlook for the US economy (and thus policy).
- The venue is the Economic Club of New York Webinar
- Time … 2pm NY time (which is 1900 GMT)
Something to listen out for are any updates to his outlook. The last FOMC projections for the US economy were last published back in the middle of December 2020. Since then additional fiscal stimulus has included the US$900bn bill in late December (which would have been perceived as likely by the FOMC at the meeting) and Biden’s extra US$1.9 trillion package (or perhaps a bit less) is still to come. These seem natural to be incorporated into a more upbeat outlook by Powell. Powell may also touch on what the implications are for policy in a hint at forward guidance to come. Powell has recently tamped down ‘taper’ talk, he is unlikely to talk it up today.