From CitiForexlivex analyst Richard Cochinos:

  • The FOMC Minutes should reflect “stronger undertones and sustained improvement”. The statement from this meeting reflected “big changes, which we think is material for future policy moves”
  • He says the Federal Reserve feels that “they are moving towards hitting both targets of the mandate and this should be reflected in the minutes”

On the Jackson Hole symposium:

  • “…short front-end positions are already being removed as expectations build the Fed is unlikely to signal any immediate change to its policy despite strong labor momentum”
  • “Our expectations do not differ dramatically from consensus, and the keynote speech could reassert a last ditch effort surrounding the wage growth argument”

Note – FOMC Minutes from the July 29-30 policy meeting are out on Wednesday, the Jackson Hole symposium starts Thursday 21 August