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Watch Fed Chair Jerome Powell speak live at a policy forum in Portugal

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Federal Reserve Chairman Jerome Powell and other global central bank leaders speak Wednesday at a monetary policy forum in Sintra, Portugal.

Joining Powell at the event, presented by the European Central Bank, are ECB President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Japan Governor Kazuo Ueda.

The forum comes two weeks after Powell and his Fed colleagues decided to take what is expected to be a temporary respite from a series of 10 consecutive interest rate increases that began in March 2022. Other central banks, though, have continued to be aggressive in the fight against inflation, with the ECB and Bank of England both recently announcing rate hikes.

Markets expect the Fed to approve one more 0.25 percentage point rise at its July meeting, then go on hold as officials observe the impact that the increases are having on the economy. Fed officials at the June meeting, though, penciled in two more hikes.

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