Highlights
The big event is the Federal Reserve's policy announcement at 2 pm ET followed by Fed Chair Jerome Powell's press conference at 2:30 pm ET. A vote of 11-1 for no rate change is expected. During the press conference, attention focuses on Powell's response to inevitable questions about the Fed's independence in the face of President Trump's attacks. How will Powell follow up on his extraordinary video statement following the Trump administration's threat of criminal charges over the Fed building renovations? Will Powell finally respond to the question about staying on as Fed governor after his term as chair expires in May? With the Supreme Court decision likely delayed until the summer on whether Trump can fire Fed Governor Lisa Cook and other Fed governors Powell has a heavy incentive to stay on to limit Trump's ability to stack the Fed with more loyalists intent on cutting rates whether the economy merits it or not.
Separately, the Bank of Canada policy decision is also due at 9:45 a.m. ET with a universal expectation of no rate change. And today is a huge day for corporate earnings with AT&T, IBM, Meta, Microsoft and Tesla among companies reporting.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.