Federal Reserve Chairman Jerome Powell will be joining a panel of global central bank counterparts at the European Central Bank forum in Sintra, Portugal. This forum comes at a time when investors are closely monitoring how central bank policymakers will address inflation trends worldwide. The Powell-led Fed has maintained its main policy rate for the past year despite inflation rates decreasing from their mid-2022 peaks. On the other hand, ECB President Christine Lagarde and Brazil Central Bank Governor Roberto Campos Neto have both implemented rate cuts. Traders anticipate the Fed to start cutting rates in September with further reductions through at least September 2025. However, Fed officials have signaled that they expect only one reduction this year. The decisions made by these central banks will have a significant impact on global financial markets.