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?
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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.
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