Federal Reserve officials are set to gather at the central bank’s annual economic symposium in Jackson Hole, Wyoming this week. Investors are bracing themselves for Friday’s speech from Fed Chair Jerome Powell, who is expected to provide further insight into how the central bank expects to continue its fight against inflation.
At this point last year, Powell had pledged that the Federal Reserve would push through with its interest rate hikes until inflation was beaten back to a sufficient level. The central bank had set an inflation target of 2%. Recently, Powell revealed his belief that inflation could be beaten back without significant job loss as was expected in the past.
Chosen in 1982, Jackson Hole is the location where the Federal Reserve typically likes to deliver important, long-term policy decisions. No less is expected of the Fed this time around, with the central bank raising interest rates for the 11th time since March 2022.