The Dow Jones Industrial Average was up 8.41 points, or 0.03 percent, to 26,727.54. The S&P 500 fell 5.11 points, or 0.17 percent, to 2,945.35.
The Nasdaq Composite Index fell 26.01 points, or 0.32 percent, to 8,005.70. Last week, the Fed decided to hold federal funds rate steady at 2.25 to 2.5 percent, yet hinted at possible rate cuts later this year, saying it will act as appropriate to sustain expansion.
Powell is scheduled to discuss the challenges facing the U.S. economy and the policies of the central bank at the Council on Foreign Relations in New York City on Tuesday.
On the economic front, investors continued to digest the latest data that came out weaker than expected.
The seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index dropped to 50.6 in June from 50.9 in May.
The reading marks the weakest expansion of business activity for over three years, as the country's private sector output growth has been on the decline since February, due to less favorable domestic economic conditions and a tendency for greater risk aversion.
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