What You Need to Know About Fed Chairman Powell's Speech
1. High-Stakes Speech: Powell's talk at Jackson Hole is described as “the most risky speech of the year” 🗣️.
2. Interest Rate Cuts: Markets are focused on whether the Fed will cut rates by 25 or 50 basis points in September 📉.
3. Market Expectations: A 100 basis point cut by year-end is expected, with three meetings left in 2024 🗓️.
4. Employment Data Impact: The US economy created 818k fewer jobs than previously reported, adding pressure on the Fed for rate cuts 📊.
5. Evercore's Prediction: Powell might leave the door open for a 50-point rate cut, according to Evercore 💡.
