Powell: Don't Expect Fed to Provide Hints on Future Rate Moves

BlockBeats News, July 1st, Federal Reserve Chair Powell stated that investors should pay more attention to economic data to gauge whether the central bank will raise interest rates. Powell did not give any hints about whether the Fed will raise rates in July and reiterated his dissatisfaction with "forward guidance."

Powell was nominated by Trump earlier this year and assumed the position of Fed Chair in May. He previously served at the Fed during the 2008-2009 global financial crisis. When speaking publicly about economic issues, Powell is unlikely to be as outspoken as Powell. He has stated that he believes Fed officials speak too much, which can instead confuse investors. (FX168)