High Impact Events – June 2021 Week 4

The only high impact events for this coming week would be when Powell is due to testify on the Fed’s emergency lending programs and current policies before the House Select Subcommittee on the Coronavirus Crisis, via satellite;

The testimony usually comes in 2 parts: first he reads a prepared statement (a text version is made available on the Fed’s website at the start), then the committee will hold a question and answer session. Since the questions are not known beforehand they can make for some unscripted moments that lead to heavy market volatility;

I do not expect Powell to deviate from the FOMC positions of Week 3. He has become experienced and careful of what he says since he first took up the Fed Chair Role back in Feb 2018.