Chair of the Federal Reserve speech at Jackson Hole on 24 August is titled "Monetary Policy in a Changing Economy"
I have popped up a few bank previews earlier:
- TD preview what to expect from Fed Chair Powell at Jackson Hole
- Barclays on what they are looking for
Adding this now from HSBC (in brief)
- Often, the Kansas City Fed's annual Jackson Hole Economic Policy Symposium has attracted market attention because leaders of the Fed or other central banks have used the forum to discuss near-term policy issues whose resolution could affect pricing for financial assets. However, the big issues facing financial markets at the moment, such as escalating tariffs, a sell-off in emerging market equities and a strengthening USD, are unlikely to be the focus of discussions. That diminishes the likelihood of market-moving news coming out of Jackson Hole this year.
More specifically on Powell:
- given that the unemployment rate, at 3.9%, is below the FOMC's median long-run estimate of 4.5%, and that core PCE inflation, at 1.9%, is close to the Committee's target of 2.0%, we are confident that Mr. Powell is likely to reiterate the view he expressed in June that "with the economy strong and risks to the outlook balanced, the case for continued gradual increases in the federal funds rate remains strong and broadly supported among FOMC participants."
