Powell to communicate that Fed is open to 50 bp rate cuts: Evercore
In anticipation of Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium, Evercore ISI analysts have indicated that Powell will outline a flexible approach to rate cuts.
Evercore ISI anticipates that Powell will affirm the Fed's confidence in inflation trending back towards the 2% target, signaling that rate reductions could commence as soon as September. Evercore explains that Powell’s speech will focus on explaining the progress made in curbing inflation and rebalancing the labor market, positioning the Fed to reduce rates.
The analysts also highlight that Powell will address market concerns by reiterating that while the Fed’s immediate plan may involve a series of 25 basis point cuts, there is a readiness to act more aggressively if labor data suggests a need.
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