A stock sell-off in August, prompted in part by rising bond yields, means traders are listening closely for how long they can expect higher rates.
even as investors largely believe the end is near for rate hikes. Some believe that panic over rising rates in August might goad Powell into dovish talk on future hikes to soothe jittery markets..The theme at this year's banking summit is "Structural Shifts in the Global Economy," and while Wall Street expects Powell to keep inflation in focus, he's unlikely to give a more definitive answer on exact policy tweaks until next month's Federal Open Market Committee meeting.
"So strong was Powell's message [in 2022] that the Fed was intent on restoring price stability that markets fell just over 3% the following week," Quincy Krosby, chief global strategist for LPL Financial said Tuesday. "Typically, markets have been in positive territory the week following Jackson Hole."
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