Powell's Jackson Hole speech will begin tonight, and the global financial market is waiting with bated breath!
On August 23 at 10 a.m. Eastern Time (22:00 Beijing Time), Federal Reserve Chairman Powell will deliver a speech at Jackson Lake Lodge in Grand Teton National Park, Wyoming. This is an annual feast for the global financial community. Last year, he spoke on Saturday, and this year he deliberately chose Friday, the hottest time for global trading. The deep meaning behind it is self-evident.
Bao Shifu's speech is undoubtedly the "main course" of this feast. From Bernanke's quantitative easing storm, to Yellen's in-depth analysis of the labor market, to Powell's deep insight into economic uncertainty and the "temporary inflation theory", this place witnessed the turning point of financial history.
The market generally expects Powell to officially announce the approach of the "golden moment" of interest rate cuts. A 25 basis point or 50 basis point interest rate cut? This is not only a number game, but also a heartbeat accelerator for the global financial market. The Federal Reserve strives for a smooth transition of the market, and it is best to usher in a slight rise in US stocks rather than sharp fluctuations.