ChainCatcher reported that according to Wall Street Journal, Goldman Sachs detailed the agenda of the Jackson Hole Global Central Bank Annual Meeting in its report this week. The most anticipated speech is Powell's speech. Federal Reserve Chairman Powell will deliver a keynote speech at 10:00 a.m. Eastern Time on August 23 (22:00 Friday Beijing Time). The speech will be live but there will be no question-and-answer session afterwards.
Goldman Sachs pointed out that the market may receive signals of "confidence in rate cuts" and "data dependence", and it is expected that Powell's message and off-site interviews will be similar to what we have heard in the past few weeks, that is, the Fed is now close to cutting interest rates, but the degree of easing will depend on the upcoming data. Goldman Sachs economists expect the Fed to cut interest rates by 25 basis points three times starting in September, and believe that the market has over-priced a 50 basis point rate cut at the next meeting after the weaker-than-expected July employment data.