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According to analysts at TD Securities, Fed Chair Powell will deliver remarks at the annual NABE Conference at 2:30pm EST, with the market looking for clues regarding the path forward for rates.

Key Quotes

“The topic of Powell’s discussion will be “Data Dependence in an Evolving Economy”. The market is now priced in for an October cut on the heels of deteriorating data and will be looking for confirmation by the Fed Chair.”

“Separately, the market expects producer prices to advance 0.1% m/m, keeping the annual rate unchanged at 1.8% for a second consecutive month in September. Similarly, excluding food and energy, producer prices should have remained unchanged at 2.3% y/y on the back of a stronger 0.2% m/m gain.”