The Federal Reserve’s interest rate proclamations deserve the attention they receive, but that’s not what the investment markets will be listening for in the week ahead.
The central bank’s regularly scheduled interest-rate setting meeting concludes on Wednesday with a statement and press conference with Chairman Jerome Powell. For the first time this year, the Fed will release its updated economic projections for the years ahead.
Watching just how fast the slowdown in those estimates are could be jarring for the stock market. Powell has been unusually public for a Fed chairman. He appeared on “60 Minutes,” playing the role of economic assurer-in-chief. “We see the economy as in a good place,” he told CBS.
Before he was on one of the highest-rated broadcast television programs reaching more than 8.6 million viewers, he spoke to a much smaller group at Stanford University. In that speech, he said the bank was “well along” in planning on ending its wind-down of its balance sheet.