Federal Reserve Jerome Powell is ready to get his two-day testimony on Capitol Hill underway on Wednesday at 10:00 am ET.
Powell’s semiannual financial policy report back to the House Financial Services Committee will likely be carefully watched to see whether or not the Fed chairman will try to rein in expectations for aggressive Fed easing following the better-than-expected jobs report seen last week.
Traders expect the Fed to cut rates later this month. However, hopes for an aggressive 50 basis factors cut have faded.
Additional insight into the central bank’s considering on monetary policy probably will also present up in the launch of the Fed’s minutes from its July assembly, the place officials voted to maintain rates steady, however opened the door to a potential rate cut between worries over rising uncertainties about the outlook on inflation and economic growth.
Bed Bath & Beyond (NASDAQ: BBBY) is about to launch earnings earlier than the market closes on Wednesday, with many traders determined for signs that the retailer has made an optimistic start for the year.
The corporate is expected to report earnings of 8 cents a share on income of $2.58 billion.
In addition to its earnings, the retailer’s comps will probably be closely watched, with some suggesting that flat or modestly positive comps outcomes for the quarter would show an indication of progress. Shares had been off 0.4% on Tuesday. They’re up 1.1% this year. However, that is after a 50% increase within the first quarter and a 31.6% decline in the second quarter.