Summary
Jerome Powell, the Federal Reserve Chairman, is preparing to give a significant speech at the Jackson Hole meeting. The speech will discuss the economic outlook and the Fed's approach to managing inflation and unemployment. This comes amid pressure from the White House to lower interest rates.
Key Facts
- Jerome Powell will give a speech at the Jackson Hole meeting, which is his last as Fed Chairman.
- The Federal Reserve is under pressure from the White House to lower interest rates.
- Powell's speech will address the economic outlook and the balance between inflation and unemployment.
- Investors are hoping for hints about a possible interest rate cut in September.
- The Fed cut its benchmark rate by one percentage point last year and has kept rates steady since December.
- Inflation is above the Fed's 2% target, while job growth is slowing, complicating rate decisions.
- The Fed recently reviewed its long-term interest-rate policy, balancing inflation control and maximum employment goals.
- Powell might state that the Fed is keeping options open for future rate decisions.
