U.S. Federal Reserve Chair Jerome Powell is set to speak with key jobs data due Friday, during a 'quiet' period for Fed officials before the December 17-18 meeting. Investors expect a third consecutive interest rate cut, influenced by comments from Fed Governor Christopher Waller.
NEW YORK, Dec 4 - U.S. Federal Reserve Chair Jerome Powell speaks on Wednesday with key jobs data due Friday, a"quiet" period for Fed officials ahead of the Dec. 17-18 meeting beginning on Saturday, and investors leaning into an expectation for a third straight interest rate cut when the central bank meets in two weeks.
When he said in mid-November that the Fed could"carefully" deliberate over its rate cuts and need not be in a hurry, it seemed to make a December rate reduction less likely - at least in the minds of market participants who pushed down the odds to near 50-50. The Fed chair in fact has pressed on the need for the central bank to keep its options open at a time of increased uncertainty about the shape of broader economic policy in the coming year, some concern that its progress on inflation has stalled, and evidence that a feared drop-off in the job market has been avoided.
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