Market participants were paying close attention to comments from Federal Reserve Chair Jerome Powell and European Central Bank President Christine Lagarde on Tuesday morning, with both central bankers addressing inflation, interest rates, and the challenges facing their respective economies. Speaking at the ECB Forum on Central Banking in Sintra, Portugal, Powell was asked at the outset how he would characterize the Fed’s view of the U.S. economy. “We've made quite a bit of progress in bringing inflation back down to our target, while the labor market has remained strong and growth has continued,” he said. “We want that process to continue.” https://www.kitco.com/news/article/2024-07-02/feds-powell-and-ecbs-lagarde-address-inflation-forecasts-rate-cuts-and