The Fed, a major event is coming!
The 2026 Jackson Hole Global Central Banking Seminar, scheduled for August 27 to 29 in Wyoming, USA, is one of the most important annual macro policy meetings worldwide. Major central bank officials and economists from around the globe will gather to exchange views on the path of monetary policy.
The new Federal Reserve Chair, Waller, will deliver his first keynote address after taking office on August 28 at 10:00 p.m. Beijing time. Against the backdrop of U.S. 30-year Treasury yields staying at elevated levels and intertwined inflation and employment data, the market will be highly focused on Waller’s latest remarks on long-end Treasury yields, his anti-inflation roadmap, and the likely path of future interest rates.
U.S. July PCE data release
At 20:30 Beijing time on August 26, the U.S. will release its July PCE data. If the reading comes in above expectations, market expectations for the Fed’s September policy path will likely be affected, and Treasury yields and global risk assets may see synchronized volatility. In addition, the revised U.S. Q2 real GDP figure will be released at 20:30 on August 26. On a quarter-over-quarter basis, investors expect the inflation measure the Fed values most—core PCE price index—to rise by 0.2%. If the increase is larger, it could cause investors to reconsider expectations that the Fed will stay put in September, and may also open the door for a pullback in gold #XAU $XAU
The 2026 Jackson Hole Global Central Banking Seminar, scheduled for August 27 to 29 in Wyoming, USA, is one of the most important annual macro policy meetings worldwide. Major central bank officials and economists from around the globe will gather to exchange views on the path of monetary policy.
The new Federal Reserve Chair, Waller, will deliver his first keynote address after taking office on August 28 at 10:00 p.m. Beijing time. Against the backdrop of U.S. 30-year Treasury yields staying at elevated levels and intertwined inflation and employment data, the market will be highly focused on Waller’s latest remarks on long-end Treasury yields, his anti-inflation roadmap, and the likely path of future interest rates.
U.S. July PCE data release
At 20:30 Beijing time on August 26, the U.S. will release its July PCE data. If the reading comes in above expectations, market expectations for the Fed’s September policy path will likely be affected, and Treasury yields and global risk assets may see synchronized volatility. In addition, the revised U.S. Q2 real GDP figure will be released at 20:30 on August 26. On a quarter-over-quarter basis, investors expect the inflation measure the Fed values most—core PCE price index—to rise by 0.2%. If the increase is larger, it could cause investors to reconsider expectations that the Fed will stay put in September, and may also open the door for a pullback in gold #XAU $XAU
