Economists are bracing to get the latest insights on the Federal Reserve’s upcoming interest rate decision as it hosts its Jackson Hole symposium in Wyoming this week. On Friday, Fed Chair Jerome Powell is set to deliver the keynote economic address, providing an insight into the central bank’s view on the United States’ economic trajectory.
Among the guests who are set to make an appearance at Powell’s speech are Bank of England Governor Andrew Bailey and European Central Bank chief economist Philip Lane, the latter of whom will speak the following day.
“It’s highly likely Powell will use his Jackson Hole address to declare it will soon be the ‘appropriate’ time to cut rates,” Bloomberg Economics observed. This comes after the latest weekly jobless claims report and data on US housing demand pointed to cooling inflation which is heading towards the Fed’s 2% mark. On Thursday, the National Association of Realtors is set to release its latest data on previously-owned home sales, thereby enhancing the Fed’s outlook ahead of its policy decision in September.