U.S. Federal Reserve (FED) Chair Jerome Powell Speaks
Jerome Powell has held the position of Chairman of the Board of Governors of the U.S. Federal Reserve (FED) since February of 2018. Nominated by President Donald Trump, Powell serves as the 16th FED Chairman in U.S. history.Speeches and Congressional testimonies by Jerome Powell are scheduled well in advance. Comments are frequently scripted to avoid creating undue turbulence in the financial markets. Twice a year, Powell is slated to give the Semiannual Monetary Policy Report to Congress. It functions as an update of the FED’s views toward the state of the U.S. economy.Official testimony and announcements pertaining to FED policy by Powell are highly structured events designed to avoid disrupting currency markets. However, traders must be aware of when they are scheduled, as the markets interpret both verbiage and tone as precursors for future FED actions.