Morgan Stanley says Fed Reserve Chair Powell will keep his options open at Jackson Hole

Global Chief Economist at Morgan Stanley Seth Carpenter on Federal Reserve Chair Powell at the Kansas City Jackson Hole gathering coming up.

  • says Powell will likely discuss future policy direction at the event
  • thinks Powell won’t promise any immediate changes
  • but Powell might
    sound more cautious about the economy’s direction
  • by doing this the Fed
    keeps its flexibility to raise interest rates if needed

This all sounds about right, I doubt very much Powell will commit to anything concrete at the Hole. Why would he?

The Federal Reserve Bank of Kansas City will host the 2023 Economic Policy Symposium, “Structural Shifts in the Global Economy,” at Jackson Hole from August 24 to 26.

This article was written by Eamonn Sheridan at Source