Powell May Introduce Uncertainty Over Rate Cuts at the Jackson Hole Symposium
According to ChainCatcher, citing Jinshi News, Mike Sanders, Head of Fixed Income at Madison Investments, stated that Federal Reserve Chair Jerome Powell may attempt to inject some "uncertainty" into market expectations for rate cuts at this Friday's Jackson Hole Global Central Bank Annual Meeting. Currently, the probability of a Fed rate cut in September, as priced in by the money markets, is as high as 84%. However, Powell is likely to want to temper this confidence in case subsequent data falls short of expectations. Sanders noted that data released between Jackson Hole and the September FOMC meeting could significantly alter the market outlook.
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