Powell will tell

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Markets are on edge ahead of Powell’s Jackson Hole speech. After a string of weak job reports and sticky inflation signals, investors are questioning whether the Fed is still on track for a September rate cut. Market-implied odds of a 25bp move have already slipped from near certainty last week to around 75% today.
Jackson Hole has a history of delivering major policy surprises — from Bernanke’s QE hints to Powell’s 2020 framework shift. Could this be the moment the Fed resets expectations again?
Powell will tell.
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