Powell Delivers Remarks, No Interest Rate Signal
Fed Chairman Jerome Powell delivered only welcoming remarks today at the Community Bank Conference (pre-recorded video) without discussing the outlook for interest rates or inflation. This means there was no new policy guidance—market participants will continue to rely on previous releases (such as the September FOMC minutes) and comments from other officials to gauge the next policy direction.
Market response was flat to slightly negative: Wall Street's major indexes fell slightly after Powell's speech, which lacked any new direction, while investors' focus shifted to the earnings season as some official data was delayed due to the government shutdown. Gold held above $4,000 as the need for hedging continued to fade.
In the policy context, the September minutes highlighted rising labor market risks, and New York Fed President John Williams expressed support for additional interest rate cuts this year—but remained cautious about inflation. The next FOMC meeting is scheduled for October 28–29, with the market still assessing the possibility of further cuts if the data supports it.
Source: Newsmaker.id
