Powell will continue to monitor inflation data and economic indicators to determine the appropriate timing for any potential monetary policy adjustments. The Fed’s focus remains on achieving sustainable economic growth while keeping inflation in check.
Powell and his monetary policy colleagues are set to review the consumer price index (CPI) report, scheduled for release on July 11.
On July 12, data on producer prices, an indicator of prices paid by businesses for goods and services, will be released.
Forecasts indicate that the producer price index (PPI) increased by 0.1 percent in June, while core PPI surged by 0.2 percent.
The Federal Open Market Committee is scheduled to convene for a two-day policy meeting starting on July 30.
Although there is a slight possibility of a 0.25 percentage point rate cut later this month, the futures market is pricing in a rate reduction in September.
