Reuters
As markets continue to push back against the Federal Reserve's higher-for-longer message, traders will be watching Chair Jerome Powell's comments on Friday - the last opportunity the central bank has to set expectations before their December meeting. The Fed enters its blackout period on Saturday before its Dec. 14 announcement, and Powell, due to speak at Spelman College, has a tough job getting the market to believe him when he says that interest rates will stay high through 2024. Data on Thursday showed the PCE price index, the Fed's targeted measure of inflation, eased in October to its lowest level since March 2021, while the consumer price index, released earlier last month, increased just 3.2% on an annual basis in October, down from a peak of 9.1% in June 2022.