Fed Chair Jerome Powell is scheduled to speak at the Council on Foreign Relations at 1 p.m. ET. Powell is expected to discuss the Fed’s outlook on the economy and monetary policy.
Powell’s remarks come after the Fed kept interest rates unchanged last week and said it will “act as appropriate” to maintain the current economic expansion. This led traders to price in a 100% probability of the Fed cutting rates next month.
Investors are also awaiting a meeting between President Donald Trump and Chinese President Xi Jinping later this week. The meeting between Trump and Xi will be the first face-to-face meeting for the leaders since trade talks broke down in May, leading to a hike in U.S. tariffs on imports of Chinese goods.
