Powell offers no new rate guidance at Fed conference

Federal Reserve Chair Jerome Powell delivered opening remarks at the 75th Anniversary Conference of the Division of International Finance in Washington, D.C., but stopped short of offering new guidance on interest rates or monetary policy. Powell began his speech by honoring the late former Vice Chair Stanley Fischer, highlighting his influence on global economics and central banking..

Powell praised the Division of International Finance for its decades of service, emphasizing the importance of rigorous research in international finance, open economy macroeconomics, and trade. He noted that the division’s work is critical to the Fed’s mandate of maximum employment and stable prices, especially amid complex global economic forces..

While Powell’s remarks focused on the achievements and mission of the division, he did not address current economic challenges or signal any imminent policy shifts. This comes as outside pressure mounts, with President Donald Trump recently calling for Powell to lower interest rates in response to slowing job growth.

Investors and analysts were left looking for clues about the Fed’s next move, but Powell’s speech remained centered on celebrating the institution’s legacy and the contributions of its staff, rather than providing a policy update..