Fed Says Powell To Speak On Economic Outlook At Jackson Hole
Powell’s comments will be closely parsed for any hints on his outlook on the economy in the wake of a weaker-than-expected jobs report and further easing in inflation.
(Bloomberg) -- Federal Reserve Chair Jerome Powell will speak next Friday at the Kansas City Fed’s Jackson Hole Economic Policy Symposium, the US central bank said Thursday.
Powell will speak on the economic outlook at 10:00 a.m. eastern time on Aug. 23, continuing a precedent whereby the Fed chief gives a keynote address during the three-day conference. The event will be held this year on Aug. 22-24 at the Jackson Lake Lodge in Grand Teton National Park.
With the central bank on the cusp of lowering interest rates from a more than two-decade high, Powell’s comments will be closely parsed for any hints on how the Fed chief is viewing the economy in the wake of a weaker-than-expected jobs report and further easing in inflation.
The Fed is widely expected to reduce borrowing costs at their next gathering Sept. 17-18, but there is some disagreement around just how big that cut will be. While most economists expect a quarter-point reduction, a few forecasters — including Citigroup Inc. and JPMorgan Chase & Co. — anticipate a larger, half-point adjustment.
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