When Federal Reserve Chair Jerome Powell speaks in Jackson Hole, Wyoming, on Fri...
JACKSON HOLE, Wyo. - When Federal Reserve Chair Jerome Powell speaks in Jackson Hole, Wyoming, on Friday, traders will comb through his remarks for clues on whether the U.S. central bank will deliver more rate cuts this year.
Fellow Fed policymakers, even those who supported July’s rate cut, are signaling reluctance to do more, with Philadelphia Fed chief Patrick Harker calling for a wait-and-see approach and Dallas Fed chief Robert Kaplan saying he is “open minded” but would “like to avoid having to take further action.
Beyond the conflicting economic data, dire market signals and dissent from within the Fed, Powell may also want to lay low to avoid attracting even more vitriol than he already has as the first Fed chief to be publicly called"clueless" by the president who appointed him.
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