Markets are bracing for a crucial week, with Federal Reserve Chair Jerome Powell scheduled to testify today and tomorrow, potentially offering insights into the monetary policy path ahead. Furthermore, June CPI data will be released on Thursday.
While the CPI release is pivotal, Evercore ISI strategists said they will be looking for indications from Powell that the Fed is moving closer to deciding on a rate cut in September, provided ongoing inflation data confirms a reduction in the run-rate post-Q1.
