Powell’s Jackson Hole Signal on Rates Is Good for Just 1 Cut
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Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.
The Federal Reserve’s annual conference, hosted by the Kansas City Fed in Jackson Hole, Wyoming, began Thursday evening with a dinner for the central bankers, economists and journalists who have flown in from around the world.
If inflation starts climbing again after a rate cut, “the Fed will have to reverse course — and in the worst case, start hiking again,” Slok said.
Brent Donnelly of Spectra Markets ran a sizeable survey of expectations for Fed Chair Jerome Powell's speech, and of the 473 responses, 51% expect a neutral-to-boring outcome and 43% see a hawkish tint.
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