Jackson Hole Symposium: Caution crept into stock markets worldwide, including India, ahead of the US Federal Reserve Chair Jerome Powell‘s speech at the Jackson Hole Symposium today, August 22.
Slated to be the eighth and final address by Jerome Powell at the Jackson Hole Symposium, ahead of his term completion in May 2026, this speech holds significance, as investors across the globe are eyeing signals for the next month’s Federal Reserve monetary policy meeting. The US Federal Reserve is slated to meet next month on September 16-17.
In his seven previous speeches at the Jackson Hole Symposium, Jerome Powell has talked about a variety of topics — from complex economic ideas and lessons from the past to promises of support during the COVID-19 pandemic and the Fed’s strong stance on fighting inflation afterwards. Each speech has also given hints about the Fed’s upcoming decisions on interest rates. That’s why everyone will be closely watching Powell when he speaks at Jackson Hole today.
Jerome Powell’s speech date and time
Fed chief Jerome Powell is set to address the annual Jackson Hole Symposium, Wyoming on August 22. His speech is slated to take place in the morning at 10 am EDT on Friday.
Indian viewers can watch Jerome Powell’s speech today, August 22 at 7.30 pm. The speech is expected to be live-streamed on the US Federal Reserve’s YouTube channel here.
What to expect from Jerome Powell’s speech?
According to a Reuters report, Wall Street largely expects that Powell will signal an imminent easing in monetary policy, but concerns that US President Donald Trump‘s tariffs could reignite price pressures may force him to tread carefully.
Unexpectedly weak July hiring data, coupled with big downward revisions to hiring in May and June, bolstered hopes of a coming reduction in borrowing costs, the report added.
Meanwhile, the futures markets currently put a 70% probability on a quarter-percentage cut next month in the Fed’s policy rate, currently set in the 4.25%-4.50% range.
Goldman Sachs researchers, according to Reuters, said they did not expect Powell’s remarks on Friday “to decisively signal a September cut, but the speech should make it clear to markets that he is likely to support one.”
What is the Jackson Hole Symposium?
The Federal Reserve Bank of Kansas City hosts dozens of central bankers, policymakers, academics and economists from around the world at its annual economic policy symposium in Jackson Hole, Wyoming.
The participants convene to discuss the economic issues, implications, and policy options pertaining to the symposium topic. The symposium proceedings include papers, commentary, and discussion, according to the website.
What’s the theme of the Jackson Hole Symposium?
This year’s theme is Labor Markets in Transition: demographics, productivity, and macroeconomic policy.
(With inputs from agencies)
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