Interest Rate Cuts And Fed Independence
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The investing world will turn its attention to northwestern Wyoming in the week ahead, with Federal Reserve Chair Jerome Powell set to give his most important policy speech of the year on Friday at the annual Jackson Hole Economic Symposium.
Wall Street will be listening closely to Federal Reserve Chair Jerome Powell's speech Friday at the Jackson Hole economic policy summit, where he could signal whether the central bank is ready to cut borrowing costs at its next meeting in September.
A colony of bats recently took up residence at the storied Jackson Lake Lodge, where central bankers and economic policymakers will convene next week for an exclusive gathering.
19hon MSN
Powell has used Jackson Hole to battle inflation and buoy jobs; he's now caught between both
By Howard Schneider WASHINGTON (Reuters) -Fed Chair Jerome Powell used the central bank's annual Wyoming research conference to promise inflation-fighting rigor when it was needed in 2022, then last year he came to the defense of the job market with promises of lower interest rates when the unemployment rate seemed on a steady rise.
There's a note of caution seeping into crypto markets, with bitcoin (BTC) sliding under $115,000 and ether (ETH) falling to $4,220 ahead of Fed Chairman Jerome Powell's speech at the Jackson Hole Symposium later this week.