Powell to give his last Jackson Hole speech
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Stocks start the week just shy of record highs, underpinned by a well-received corporate earnings season and hopes the Federal Reserve will soon start reducing official borrowing costs again. Investors are therefore keen that Friday’s keynote address by Fed Chair Jerome Powell at the Jackson Hole symposium will be suitably dovish.
The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.
The annual economics symposium that begins Thursday brings together top monetary policy officials from around the world, and always makes headlines in the financial press. This year, there are at least three reasons the conference is worth paying attention to.
Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.
By Ishaan Arora (Reuters) -Gold ticked up on Wednesday but hovered near three-week lows, as investors looked towards the Federal Reserve's July meeting minutes and the Jackson Hole, Wyoming symposium of central bankers this week for cues on further rate cuts.