• [Chairman Powell] is likely “to remain consistent,” AmeriVet’s Gregory Faranello says in a note. “Perhaps he gets more granular.” Faranello expects the chairman to “stick to the notion on monetary policy that ‘at some point this year’ it will be appropriate to begin lowering rates.”

(Dow Jones) — 1023 ET – Fed Chairman Powell is likely to hammer at the message that interest rate cuts are coming but not just yet in a speech slated for this afternoon. Last week he said there is no rush to ease monetary policy. He is likely “to remain consistent,” AmeriVet’s Gregory Faranello says in a note. “Perhaps he gets more granular.” Faranello expects the chairman to “stick to the notion on monetary policy that ‘at some point this year’ it will be appropriate to begin lowering rates.” Treasury yields are rising ahead of
the speech, while the WSJ Dollar Index is flat.