The Federal Reserve Bank of Kansas City’s annual gathering in Jackson Hole, Wyoming kicked off Thursday evening with a dinner filled with central bankers, economists and reporters from the around the world. Here’s what to expect from the three-day conference:
Powell Speech
Fed’s Powell is the next major catalyst ahead of Nonfarm Payrolls
Recent comments by Fed officials have reiterated the need to continue hiking rates until they reach at least 5% and a slew of data has pointed in that direction in general. ”Several regional Fed presidents have indicated openness to higher interest rates and larger increases if the data remain strong. It would mark a shift in the Fed’s guidance if Powell articulates similar sentiments at tomorrow’s testimony and a step back from the cautious policy around rates,”.
Powell speech: Economy is very strong, labour markets extremely tight, inflation well above goal
Powell speech: Fed Chair Jerome Powell said in his post-FOMC meeting press conference on Wednesday that the US economy is very strong and the Fed thus expects to reduce the size of its balance sheet.
Fed 100% Increase Interest Rates in December 2018 – Neal Bhai Forecast
The Fed is next schedule to meet in December. Currently the market has a 100% chance that the fed will increase interest rates when it next meets. The markets will now focus on March 2019.
Gold Prices Zoom After Powell Says Interest Rates Are ‘Just Below’ Neutral
Gold Silver Reports (GSR) – U.S. gold futures settled up $10.20, or 0.8 percent, at $1,223.60. Gold jumped from near a two-week low on Wednesday after U.S. Federal Reserve Chair Jerome Powell said interest rates were “just below” neutral, soothing investor worries over the pace of rate hikes.