{"id":66215,"date":"2023-02-07T09:00:20","date_gmt":"2023-02-07T14:00:20","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66215"},"modified":"2023-02-07T14:41:33","modified_gmt":"2023-02-07T19:41:33","slug":"coffee-with-greta-traders-await-powell","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/02\/07\/coffee-with-greta-traders-await-powell\/","title":{"rendered":"Coffee With Greta: Traders Await Powell"},"content":{"rendered":"

DJIA Futures: <\/b>-114 (-0.3%)<\/span><\/p>\n

SPX Futures: <\/b>-7 (-0.2%)<\/span><\/p>\n

NASDAQ Futures:\u00a0<\/b>-1 (-0.01%)<\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are mostly lower as traders await a speech by Fed Chair Jerome Powell.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Powell On Deck<\/span><\/h2>\n

Fed Chair Jerome Powell is scheduled to speak at an event at the Economic Club of Washington today.\u00a0<\/span><\/p>\n

Powell\u2019s speech is expected to begin around 12:40 p.m. ET.<\/span><\/p>\n

The market is monitoring this speech after the chairman struck a more dovish tone after last week\u2019s rate hike.\u00a0<\/span><\/p>\n

But after the January jobs report came in hot on Friday, Powell\u2019s tone may shift back to be more hawkish.<\/span><\/p>\n

Minneapolis Fed President Neel Kashkari maintained his hawkish stance in an interview with <\/span>CNBC<\/span><\/a> this morning.\u00a0<\/span><\/p>\n

Kashkari said, \u201cWe have a job to do. We know that raising rates can put a lid on inflation. We need to raise rates aggressively to put a ceiling on inflation, then let monetary policy work its way through the economy.\u201d<\/span><\/p>\n

He sees the federal funds rate peaking at 5.4% later this year, from the current range of 4.5% to 4.75%.\u00a0<\/span><\/p>\n

But other Fed officials see the terminal rate around 5.1%.\u00a0<\/span><\/p>\n

Kashkari highlighted the continued strength in the labor market as an issue.<\/span><\/p>\n

He said that data \u201ctells me that so far we\u2019re not seeing much of an imprint of our tightening to date on the labor market.\u201d<\/span><\/p>\n

Pinterest Slips On Q4 Revenue Miss, Weak Outlook<\/span><\/h2>\n

Pinterest <\/b>(PINS) shares are falling 1% ahead of the open after missing Q4 sales expectations and issuing weak guidance.\u00a0<\/span><\/p>\n

Here\u2019s how the social media company's results compared to analysts\u2019 estimates:<\/span><\/p>\n