The July Fed minutes, which will be released during lunchtime today, will likely be overshadowed by Fed Chair Powell’s Jackson Hole speech on Friday. Nevertheless, the verbiage may offer clues on shifting Fed sentiment toward cutting rates. The Fed Fund Futures currently show an 83% probability of a 25bp cut at next month’s FOMC meeting on September 16-17.
The Jackson Hole Symposium begins today and runs through Friday. Leaders from around the globe will don Wranglers and discuss the economic outlook and how fiscal policy can mitigate potential downside risks to themselves and their constituents. The highlight for us will focus on Powell’s comments at 8 AM on Friday., where we’ll be listening for any indication that easing could begin as early as September.
