Federal Reserve

Watch Fed Chairman Jerome Powell speak to the Economic Club of New York

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Federal Reserve chairman Jerome Powell is scheduled to deliver a speech to the Economic Club of New York shortly after noon ET.

Markets are watching the speech closely for clues about the future path of monetary policy. The Fed is widely expected to increase its short-term benchmark rate by a quarter point in December, but expectations diverge from there. Powell jolted markets in early October when he said the Fed is "a long way" from a neutral rate that is neither stimulative nor restrictive.

Read more:
Fed warns that a 'particularly large' plunge in market prices is possible if risks materialize
Mnuchin reportedly asked around to see if there are alternatives to Fed rate hikes
Here's what to expect from Fed Chief Powell's most important speech yet

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