Goldman Sachs is not expecting a strong signal from Federal Reserve Chair Powell this week

Federal Reserve Chair Powell is speaking later this week at the Kansas Fed’s Jackson Hole symposium.

Goldman Sachs is not expecting a lot from Powell at Jackson Hole, saying any signals will most likely be held back until after the July PCE inflation and the nonfarm payrolls report that follow next week:

  • July PCE inflation is due Thursday 31 August
  • Nonfarm payrolls on Friday September 1

“the Fed will likely wait to be informed by these new data before changing their current posture”.

This is really bad … markets are going to spend the whole week waiting for Powell to move his lips and then shrug it all off with ‘never mind, wait for the data next week’.

This article was written by Eamonn Sheridan at Source