Jackson Hole symposium to shape Dollar’s path [Video]

The Fed’s annual economic symposium will kick off on Thursday, but the highlight will be Chairman Powell’s flagship speech on Friday. With US yields t

officials are joined by foreign central bankers and academics at their summer retreat in Jackson Hole for a symposium to discuss monetary policy and economic trends. Since this platform has been used in the past to signal major strategy shifts, markets see it as an unofficial FOMC meeting.

Economic growth is tracking at a 5.8% annualized pace this quarter according to the Atlanta Fed, consumers continue to spend, and the unemployment rate remains subdued near a five-decade low. Meanwhile, home prices are hitting new record highs in many parts of the country, so the cooldown in rents that the Fed has long awaited might prove elusive.

If Powell puts more emphasis on the prospect of keeping interest rates elevated for a longer period or on raising rates again in September, that could amplify the upward pressure on US yields, turbocharging the dollar.

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