ANZ: Powell Likely to Take a More Cautious Stance at Jackson Hole

According to Jinse Finance, the Jackson Hole Symposium is the focal point this week. ANZ economist Shwetha Sunilkumar noted that last year, Federal Reserve Chair Jerome Powell openly stated the reasons for an imminent rate cut at the conference, but this year Powell is unlikely to be so explicit. Sunilkumar added that Powell may indicate a higher likelihood of further easing measures being implemented this year, but he is not expected to commit to a specific timeline, especially as concerns over inflation have intensified following stronger-than-expected July services and producer price data released last week. She also pointed out that some regional Fed officials have become more cautious about the timing of future easing. The bank’s baseline expectation remains that the Federal Reserve will cut rates at the September meeting. (Jin10)