Watch live: Fed Chair Jerome Powell discusses central bank independence, crypto at Dealbook conference
Published On Dec 4, 2024, 1:25 PM
Federal Reserve Chair Jerome Powell spoke at the DealBook conference, addressing key topics such as central bank independence and cryptocurrencies. As the Fed approaches a decision on interest rates, expectations are building for a quarter-point reduction, following previous cuts earlier this year. However, recent inflation increases have led policymakers to adopt a cautious stance, indicating that any potential adjustments will be closely monitored based on incoming economic data.
Stock Forecasts
SPY
Positive
With the anticipated interest rate cut from the Fed, financial sectors such as banks might see some weakness as margins tighten. However, rate cuts tend to support equity markets more broadly, especially in growth stocks as borrowing costs decrease. This context may favor investment in growth-focused ETFs and stocks, particularly in tech and consumer discretionary sectors.
BLOK
Positive
As the Fed highlights crypto discussions, this could bolster interest and investment in blockchain technologies and related companies. ETFs focused on blockchain could see increased inflows as investors anticipate potential regulatory clarity.
Related News
DealBook Summit Live Updates and News: Jerome Powell, Prince Harry and Jeff Bezos Among Speakers
Dec 4, 2024, 8:33 AM
Alex Cooper, the host of “Call Her Daddy,” is onstage now. Jeff Bezos, Prince Harry and Sundar Pichai are among those still to come.
Stock market today: Nasdaq futures lead S&P 500, Dow higher with Fed's Powell on deck
Dec 4, 2024, 6:53 AM
Fed Chair Jerome Powell's speech looms large as investors calculate the odds on a December rate cut.
San Francisco Fed president on Trump tariffs: 'Very prepared' to assess impact
Dec 4, 2024, 6:00 AM
The Fed doesn't have a Trump tariff forecast ready as the central bank doesn't "think in hypotheticals," says San Fran president Mary Daly, but it "doesn't usually derail growth."