Federal Reserve Chair Jerome Powell‘s upcoming speech at the Jackson Hole Economic Policy Symposium on Friday is being billed as a pivotal, “make-or-break” moment for the central bank’s more dovish contingent.
This annual gathering of central bankers, economists, and financial leaders in Wyoming is one of the most closely watched events on the economic calendar, and this year’s address is no exception.
Market Experts Are Widely Anticipating A “Conciliatory” Tone
The anticipation surrounding Powell’s speech has been fueled by a growing consensus among market analysts that the Fed is poised to ease its monetary policy.
According to Gary Black of The Future Fund, money markets are now pricing in an 84% chance of a 25-basis-point rate cut in September, with expectations for two cuts by the end of the year. He says that Powell’s speech “could be make-or-break moment for a more dovish Fed.”