ING's chief international economist James Knightley spoke with news wire Dow Jones / Market Watch:
- Powell is likely to highlight that inflation is moving in the right direction
- Giving the Fed more confidence that it will reach its 2% target
- Powell might signal that the slowdown in inflation allows the central bank to focus more on its other mandate, which is maximizing employment
- "I suspect that he will say something along the lines that, given the deterioration in the unemployment rate, it may make sense that we do start to cut rates a bit sooner"
- "The Fed would have to acknowledge that the labor market hasn't been as good as perhaps the official data has been suggesting,"
- "Again, this is a justification for them to re-evaluate the narrative and decide on whether to put the emphasis on the need to make the monetary policy less restrictive."
![Jackson hole 2024](https://images.forexlive.com/images/Jackson%20hole%20abstract_id_69e92031-3f00-463c-a73f-b78b5cbee204_size900.jpg)
The Kansas City Federal Reserve's 2024 Jackson Hole Symposium runs from August 22 to 24.
Federal Reserve Chair Powell speaks on Friday: