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The Fed’s annual Jackson Hole symposium (Aug 21–23) puts Jerome Powell in focus as markets anticipate guidance on September’s FOMC. Historically, his remarks here have sparked major moves—hawkish in 2022, dovish in 2024. Investors largely expect a 25 bps cut in September, but Powell is unlikely to commit, stressing data dependence. Analysts differ on whether his tone will be neutral, hawkish, or dovish. He may also outline a policy framework shift away from flexible average inflation targeting. Jobs data Sept 5 will be crucial.
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