Traders expect the Fed to start cutting rates in September, with another reduction by the end of the year and quarterly moves lower through at least September 2025. However, Fed officials in June indicated they expect only one reduction this year.
The participants in the ECB forum alongside Jerome Powell include ECB President Christine Lagarde, Brazil Central Bank Governor Roberto Campos Neto, Bank of England Governor Andrew Bailey, and Bank of Japan Governor Kazuo Ueda. CNBC's Sara Eisen will moderate the event.
Brazil's Central Bank cut its primary rate by a quarter point in May, taking it down to 10.5%.