Federal Reserve Chairman Jerome Powell will deliver his annual remarks at the Kansas City Fed’s Jackson Hole Economic Symposium on Friday, August 23.
Dreyfus-Mellon Asset Management chief economist and macro strategist Vincent Reinhart believes Powell will repeat what he said after the Fed decision in July, which is that inflation is falling, but there will be no rush to cut rates because “the economy is performing quite well. ” Reinhart describes it as a “tough love” message, with Powell again having to emphasize that policy will remain restrictive as long as inflation remains above the Fed’s target.
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This post was written by Stephanie Mikulich.