FOMC Chairman Jerome Powell will be delivering his remarks on the US economy at the Wall Street Jobs Summit on Thursday, March 4, at 1705 GMT.
Powell Preview: Three scenarios for the Fed to defuse the bond bonfire, market implications.
"Calm before the storms – markets found some solace, but it hinges on new soothing words from Federal Reserve Chair Jerome Powell," says FXStreet analyst Yohay Elam. "While the world's most powerful was testifying before Congress, stocks held up. However, Thursday after his testimony, all hell broke loose with bonds and stocks sinking in tandem, placing the dollar back on its throne."
About Jerome Powell (via Federalreserve.gov)
Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.
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