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Fed Chair Powell Testimony This Week


Stock index futures are higher, building on last week’s gains as U.S. Treasury yields retreated further from recent highs.

The 9:00 central time January factory orders report is expected to show a 1.8% decline.

fed reserve building

Federal Reserve Chair Jerome Powell is scheduled to testify before the Senate Banking Committee on Tuesday at 9:00 and to the House Financial Services Committee at 9:00 on Wednesday, in sessions that will  be closely watched for signals about the economy and interest rate policies.


The U.S. dollar is lower, and the euro currency is higher.

Retail trade in the euro area increased by 0.3% from a month earlier in January 2023, following a downwardly revised 1.7% decline in December and missing market expectations for 1.0% growth.

The annual inflation rate in Switzerland slightly increased to 3.4% year-on-year in February of 2023, the highest level since August 2022, from 3.3% in the prior month and above market predictions of 3.1%.

The Bank of Japan’s latest policy decision is due Friday. The central bank is predicted to keep short term interest rates unchanged at negative 10 basis points.


Federal Reserve Chair Jerome Powell’s testimony this week is likely to echo what other Fed officials have recently said,  suggesting interest rates will go higher than policymakers anticipated just a few weeks ago if economic data comes is strong.

Most likely the Federal Open Market Committee will increase its fed funds rate by 25 basis points at its March 22 policy meeting, and there is more talk of another 25 basis point hike at the May meeting.

The severely inverted yield curve is becoming even more inverted but continues to get very little attention.


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Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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