Federal Reserve Chairman Jerome Powell will give his annual remarks at the Kansas City Fed’s Jackson Hole Economic Symposium on Friday, August 23.
Dreyfus-Mellon Asset Management chief economist and macro strategist Vincent Reinhart thinks Powell will reiterate what he said following the July Fed decision, which is that inflation is declining, but there is not going to be a rush to cut rates because “the economy is performing pretty well.” Reinhart describes it as a “tough love” message, with Powell having to again stress that policy will remain restrictive as long as inflation remains above the Fed’s target.
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This post was written by Stephanie Mikulich.