Fed Chair Powell's Last Public Chat Before Rate Decision

Federal Reserve Chair Jerome Powell will be speaking at the New York Times' DealBook conference today. This talk is happening just two weeks before the central bank announces its decision on interest rates. It’s also Powell’s last public appearance before that important meeting. Markets are expecting the Fed to lower its benchmark interest rate by 0. 25% from its current range of 4. 5%-4. 75%. This follows the Federal Open Market Committee's decision to reduce the federal funds rate by 0. 75% in September and November. Lately, policymakers have voiced concerns about a slight increase in the inflation rate. They’re taking a cautious stance, monitoring the data closely. In other news, Fed Governor Christopher Waller has hinted at a rate cut in December, but he's worried about inflation. The Fed's preferred inflation measure has risen to 2. 3% annually. Additionally, meeting minutes show that while officials anticipate gradual rate cuts, they’re being careful.