**Global eyes focus on Wyoming: Jackson Hole Global Central Bank Annual Meeting is about to open**
Federal Reserve Chairman Powell will deliver a highly anticipated speech on the economic outlook at the Jackson Hole Annual Meeting of Global Central Banks at 10:00 a.m. Eastern Time on August 23 (22:00 Beijing time). This important conference will be held from August 22 to 24 at the Jackson Lake Lodge in Grand Teton National Park, Wyoming, USA.
Every year, the Jackson Hole annual meeting attracts close attention from economists, central bankers and senior financial officials from around the world. This year, Powell's speech will be the focus of the market and may send a key monetary policy signal. It is worth noting that this year's speech is scheduled on Friday - the most active time for global market trading, while last year it was scheduled on Saturday, showing the importance of this year's meeting.
Powell is expected to reveal specific signals on the timing of a rate cut in this speech, which could become a landmark event for the market. The Jackson Hole annual meeting has always been the stage for major policy announcements, such as Bernanke’s quantitative easing statement in 2010, Yellen’s labor market analysis in 2014, Powell’s discussion of economic uncertainty in 2019, and the “temporary inflation” in 2021. "On", all published here.
The question that the market is most concerned about is whether Powell will release a signal to cut interest rates by 25 or 50 basis points. Considering that this is a global meeting hosted by the Fed itself, the Fed obviously does not want to trigger violent market fluctuations when announcing major decisions. Therefore, the wording of Powell's speech will be carefully considered. For the Fed, the best-case scenario is for U.S. stocks to rise slightly and hit new highs after the meeting, which will help consolidate the Fed's image in global markets.
In addition, private exchanges between central bank officials from various countries will also become an important part of the meeting. Recent trends in the foreign exchange market, especially the trend of the yen, will be the focus of their attention. Therefore, the changes in the US dollar and the yen before and after the meeting deserve close observation.