Federal Reserve Chairman Jerome Powell gives opening remarks on Tuesday at a mon...
FILE PHOTO: Federal Reserve Board Chairman Jerome Powell speaks at his news conference following the closed two-day Federal Open Market Committee meeting in Washington, U.S., May 1, 2019. REUTERS/Yuri Gripas
While Powell’s remarks may well stay true to the theme of the two-day session at the Chicago Federal Reserve, organized as an exploration of broad monetary policy strategy and methods, investors will be attuned to any hint of his developing economic outlook. To investors and even some of Powell’s colleagues, it has become a different world, with U.S. bond yields falling at some of their fastest rates since the 2007 to 2009 economic crisis and expectations the Fed may change its “patient” approach and reduce rates multiple times this year. Over the past five days the interest rate on the 2-year Treasury bond fell a third of a percentage point, the steepest five-day drop since 2008.
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