As such, it might seem that the propensity to surprise is actually on the other side of the equation now. But if anything, that argues to how high of a threshold the situation is for Powell to have to surprise markets in this manner.
It pays to wait on more data and that will be the mantra that Powell should be preaching later this week.
If Fed policymakers are to offer up any signals on September, it will be in that window right after the jobs data and before that particular weekend strikes.
Powell seems adamant on wanting to define his legacy at the Fed as being the last stand in the wake of politicisation of the central bank and crumbling independence. Some of his peers might feel the same way and that principle could just be what gives them the courage to push back against market expectations for once.
Either way, don't expect much from Jackson Hole. If market players want confirmation or want some form of affirmation of a rate cut for September, the biggest clue will come from the next US labour market report.
This article was written by Justin Low at investinglive.com.Hence then, the article about jackson hole on the horizon for markets this week was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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